WiggleCRC to axe 300 jobs

[smutchin]

Save your ink. It's all on their website.

Doh! Thanks for that. I did look for the info but couldn't find it. Makes absolutely no reference to the likelihood of job losses of course.

 

[Milkfloat]

I believe that Chris Watson from CRC sits on the Wiggle board and is a major shareholder - so not unexpected to CRC.

 

[T.M.H.N.E.T]

I think you need to understand a bit more about how business, and life, works. You can bet your bottom dollar that the NI closure was part of the business plan discussed between wiggle and CRC during the takeover. Wiggle could not have bought without a willing seller.

I'm not saying that the original owners shouldn't have sold, just that no-one should be naive enough to believe that they didn't know exactly what would happen.

I think you need to understand a bit more about how business, and life, works. You can bet your bottom dollar that the NI closure was part of the business plan discussed between wiggle and CRC during the takeover. Wiggle could not have bought without a willing seller.

I'm not saying that the original owners shouldn't have sold, just that no-one should be naive enough to believe that they didn't know exactly what would happen.

I understand plenty thanks. A business was sold, the new owners of that business are asset stripping and returning operations to their HQ.

Job loss is the result

 

[S-Express]

I believe that Chris Watson from CRC sits on the Wiggle board and is a major shareholder - so not unexpected to CRC.

You mean not unexpected to the former shareholders of CRC who were rewarded handsomely when Wiggle bought their business? Don't forget Wiggle is owned by a private equity group whose principal aim is to build businesses like this and then sell them on again. This is part of the process, and Wiggle/CRC's NI employees are just victims of that, unfortunately.

This has very little to do with cycling, and everything to do with long term investment realisation.

 

[Milkfloat]

You mean not unexpected to the former shareholders of CRC who were rewarded handsomely when Wiggle bought their business? Don't forget Wiggle is owned by a private equity group whose principal aim is to build businesses like this and then sell them on again. This is part of the process, and Wiggle/CRC's NI employees are just victims of that, unfortunately.

This has very little to do with cycling, and everything to do with long term investment realisation.

Absolutely, unfortunately it is not cyclists that make the decision it is the money men. I don't blame the Watsons and Bridgepoint for their decisions. I would make the same ones. However, that is no comfort to the employees affected. I know how they feel, I worked for Nokia a few years ago.

 

[srw]

Doh! Thanks for that. I did look for the info but couldn't find it. Makes absolutely no reference to the likelihood of job losses of course.

It's not in their remit, of course!

 

[mjr]

Not really. Why should they not sell their business?

Hang on. The problem isn't that they sold their business, but that they sold it to someone who was always likely to close that bit down and shoot on the community that helped build it up.

Maybe it was the best offer they had. I don't know. Anyone here work for CRC and know if they even tried to sell it locally, perhaps to the workers or a trust?

 

[T.M.H.N.E.T]

Hang on. The problem isn't that they sold their business, but that they sold it to someone who was always likely to close that bit down and shoot on the community that helped build it up.

Maybe it was the best offer they had. I don't know. Anyone here work for CRC and know if they even tried to sell it locally, perhaps to the workers or a trust?

Im sure that if I was ever in the position to sell a business, the nature of the buyer would be down the list of important things, £ being at the top.

Chris Watson earlier this year

"“This is an exciting new chapter for the Chain Reaction Cycles brand,” added Chain Reaction Cycles’ managing director Chris Watson. “Since the business started in 1984, we’ve grown strongly from our mountain bike origins in Northern Ireland to meet the needs of moreMTB, BMX and road cyclists across more countries. Coming together with Wiggle is agreat way to continue that growth, as aglobal force in cycling and a leader intechnology, e-commerce and innovation.”

 

[S-Express]

Maybe it was the best offer they had. I don't know. Anyone here work for CRC and know if they even tried to sell it locally, perhaps to the workers or a trust?

I suspect it had not occurred to them to sell until Bridgepoint/Wiggle approached them.

 

[T.M.H.N.E.T]

Modern Titanic. Proudly built in Northern Ireland but sunk by the English

 

[T.M.H.N.E.T]

It was an English iceberg?

Not sure what language it spoke

 

[Johnno260]

I have seen the same thing 1st hand, the competition bought our company/brand moved the production to their main facility and closed my branch.
They offered our brand for a year but pushed their brand on the customers until they killed the brand I used to work for.
It's standard practise for business now.

 

[T.M.H.N.E.T]

[QUOTE 4529562, member: 259"]My brother-in-law works for CRC and they have been very nervous ever since the 'merger', expecting something nasty to happen. I'll see him at the weekend and I'm crossing my fingers that he keeps his job, as they are not exactly plentiful in Co Antrim.[/QUOTE]
It's bleak with Bombardier Howdens and CAT all high tailing it.

Its making jobs more valuable and increasingly cutthroat to get and stay in obviously.

 

[srw]

Im sure that if I was ever in the position to sell a business, the nature of the buyer would be down the list of important things, £ being at the top.

Chris Watson earlier this year

"“This is an exciting new chapter for the Chain Reaction Cycles brand,” added Chain Reaction Cycles’ managing director Chris Watson. “Since the business started in 1984, we’ve grown strongly from our mountain bike origins in Northern Ireland to meet the needs of moreMTB, BMX and road cyclists across more countries. Coming together with Wiggle is agreat way to continue that growth, as aglobal force in cycling and a leader intechnology, e-commerce and innovation.”

And you think that's his words, rather than, say, something Wiggle's PR department knocked up in his name? Right. I've got a helmet you might like. Absolutely guaranteed to protect you from all injuries, and it'll make you faster, too.

I suspect it had not occurred to them to sell until Bridgepoint/Wiggle approached them.

Right. You might like my magic helmet, too.

 

[T.M.H.N.E.T]

And you think that's his words, rather than, say, something Wiggle's PR department knocked up in his name? Right. I've got a helmet you might like. Absolutely guaranteed to protect you from all injuries, and it'll make you faster, too.

Right. You might like my magic helmet, too.

If you know any better (ie: that Chris Watson didn't say that) please do offer it up That's obviously more important than what was said.