Updated: 2023年10月24日

Signa Sport United N.The German website Diebewertung reports that Internetstores GmbH, a European subsidiary of V (SSU), has filed for bankruptcy.

In an application filed with the District Court of Stuttgart, news reported that the company cancels purchase orders with suppliers as it prepares to do so

Internetstores is an umbrella company that is over 40 e-commerce brands in European countries, many of which are Probikeshop, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester, Bikester,Fahrrad.de , Red Circulation Products, Fixie Inc, Vermont Bike, Serious Cycle, Orler, Votec and Brugelmann. What happens with each of these individual entities is unknown. According to its website, the company employs more than 600 people.

It came in the wake of news last week that another subsidiary of Ssu, Tennis-Point GmbH, had also filed for bankruptcy. In a statement from SSU, "Cigna Sports United N., the final parent company of the Cigna Sports United Group, is pleased to announce that Cigna Sports United N.S. is the sole parent company of Cigna Sports United N.S.S.S.S.S.S.S.S.S.S.S.S.S.S.S.S.S.S.S.S.S.S.S.S.S.S.S.V.Other legal entities of the Cigna Sports United Group, including the Cigna Sports United Group, are currently preparing similar applications."

The situation related to the Wiggle, the chain reaction cycle, Vitus and Nukeproof remains unchanged from last week.

The original story continued below and was published on 10 May 20, 2023:

According to Cyclingnews sources, the UK eCommerce cycling retail giant WiggleCRC has cancelled orders, stopped paying its suppliers and refused to receive the goods until further notice.

The news comes after weeks of upheaval following the brand's parent company, Signa Sports United (SSU), announcing an "accelerated restructuring program" along with plans to delist from the New York Stock Exchange in what it describes as a "tough profitability challenge.""It was then taken another blow as its main shareholder, Signa Holdings GmbH, rebelled against the unconditional commitment of €150m in funding.

Since then, Cycling Electric has reported that WiggleCRC has applied for "self-management", citing a letter sent to business partners and a statement made in the company's home application.

A letter also seen in cyclingnews sent by Internetstores, another subsidiary of Ssu, an umbrella company that covers most of ssu's EU e-commerce brands, reveals that the brand will file for bankruptcy.

It is unclear whether this statement relates to Internetstores or parent company SSU, but a statement to investors from Signa Sports United released today provides some clarity. This is Signa Sports United N.It begins with the indication that Tennis-Point GmbH, one of the main subsidiaries of V, has filed for bankruptcy, "Signa Sports United N.Other legal entities of Signa Sports Group, including V. As the ultimate parent company of Cigna Sports United Group, we are in the process of preparing for the commencement of bankruptcy proceedings in the coming days.

In the letter, it asks the addressee "not to hand over the new goods" and suggests that they are being kept in their warehouse for the time being.

The owner of the WiggleCRC supplier, who wants to remain anonymous, told Cyclingnews that the situation is similar to the UK retailer, but "those words [bankruptcy or administration] are used

" "We said that the open [purchase order] had been cancelled and I would like them to pay no more supplier invoices.""

Another source told Cycling Weekly, a sister publication of Cyclingnews, that the company is "pressing the pause button" and that it has stopped paying bills.

When approached for comment, a Wiggle spokesperson said, "We have nothing to add at this time. "

A submission by Mapil Topco Limited, the holding company of Wigglecrc, to Companies House, the executive body of the UK government, states: "The group currently relies on funds from its shareholder, Signa Sports United GmbH."

in the same application, A statement from the directors said that Signa Sports United provided Mapil Topco Ltd with a letter of support stating that it "is not currently seeking repayment of the outstanding amount" and that it "will add €18m more than the amount already lent.""

It remains unconfirmed whether the loss of SSU's 15,000 million euro financing was cascaded to Mapil Topco Limited.

Elsewhere, in a LinkedIn post, the CEO of Signa Sports United's North American cycling division, which includes Vitus and Nukeproof, appears to suggest that the entire North American division of the company is closed, suggesting that 45 of its employees will be able to get in touch for work and that they have or will soon be fired.

"The bicycle division of SIGNA Sports United North America has been forced to discontinue all operations within a few days. This was caused on Monday by the sudden renegotiation of a binding 15,000 million euro equity commitment to Cigna Sports United Nv "

Road.cc It also reports that Frasers Group, a British retail conglomerate, is run by Mike Ashley and owns Evans Cycles, Pro Bike Kit and Sports Direct, which is linked to the purchase of the brand.

Cyclingnews contacted the Frasers group for comment in this connection.

In relation, it was also announced this week that Frasers Group has agreed to buy another SSU brand, SportScheck, from 34 retail outlets for an undisclosed fee.