W Realisations 2023 Limited (02667809): administration
- Status
- Administration ended
- Administration began
- 2023-10-24
- Administrators' firm
- FRP Advisory
- Formerly
- Wiggle Limited; Edge Technologies (UK) Limited
- Incorporated
- 1991-12-03
- Location
- London
- Industry
- 47640 Retail sale of sports goods, fishing gear, camping goods, boats and bicycles
Why it went into administration
- COVID-19
- Weak consumer demand
- Supply chain disruption
- Property / lease costs
- Sustained trading losses
- Regulatory change or action
- Competition / price pressure
From the administrators' statement
Based in the UK, and incorporated in 1991, Wiggle has developed into a global leader in the on-line retail of bikes and sports equipment.
Mapil was incorporated in 2011 as an intermediate holding company when Bridgepoint Capital acquired Wiggle from Isis Equity Partners. Mapil is a non-trading entity.
The Group, which was latterly formed through the merger of Wiggle and Chain Reaction Cycles Limited CRC”) in 2016, is one of the world’s leading online sports retailers predominantly focused on selling equipment, apparel and accessories in cycling but also in other outdoor activities.
Administrators' statement of proposals (2023-12-20) · Companies House register