Thanks to an anonymous source, Cyclingnews understands that beleaguered multi-sport retail giant, WiggleCRC (comprising Wiggle and Chain Reaction Cycles) is to lay off its entire workforce.
It appears that this is the final act before sale, with the new owner not wanting to take any staff onward from the business as it currently stands. While a number of staff are currently remaining, the majority of the workforce has been made redundant immediately.
An anonymous source says that “once the warehouse is clear, it’s game over. Wiggle and CR [Chain Reaction. ed.] will cease. The brands have been bought, but IP only – no staff or stock.” It is understood that the remaining staff are being kept on in temporary employment, and will eventually also be let go.
Cyclingnews has approached CityPress, working on behalf of the administrators, FRP Advisory, for comment, but it declined to comment at this stage.
Newly redundant staff though are already turning to LinkedIn to hunt for new roles elsewhere, with one stating “my time is up, along with everyone else within the organisation.”
The situation at WiggleCRC has been tumultuous over recent months to say the least, with the brand put up for sale in October, before switching off international e-commerce stores in November. Rumours of potential buyers have been swirling, but as is often the case with an ailing British retailer, rumours of Mike Ashley as a potential buyer have been the strongest. This is still yet to be confirmed.
This isn’t the first round of redundancies that Wiggle CRC has faced, with the brand axing 105 jobs at the time it went into administration.
A second source has told Cyclingnews that “a few staff are staying to help trade down all the remaining stock, and then it’s curtains” so it is expected that orders will continue to be fulfilled for as long as the ecommerce store remains functional.
Given the dynamic nature of the situation, we will update you as and when more information becomes available.
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