Bikes 2u Direct enters administration, assets on auction
The stock and assets associated with Bikes 2U Direct will be sold at auction with bids closing on December 5th.
Appointed on the back of the parent company entering administration, Walker Singleton will attempt to sell 1,650 units, with boxed bikes from Ridgeback, Saracen, Dawes, Raleigh, Claud Butler, British Eagle, Viking and Bumper on offer. The Bikes 2U Direct website, while remaining live at present, has no stock available to order.
Furthermore, 81 bays worth of Redirack warehouse racking measuring up to 6.6 metres high is up for auction.
Other items include workshop items from the likes of Park Tool, warehousing steps, trollies and storage systems, a large quantity of light fittings and LED Lights. IT and telecoms equipment, printers and EPOS, coffee machines, water coolers and photographic equipment will also be sold.
The business was an online arm of Highfield Cycles of Shipley, which entered administration in July of this year.
The auction will be available on site at the firm’s former premises, online and by phone at 0113 848 0101. Bids close noon on December 15th. The address is Unit 5 Aylesham Industrial Estate, Brighouse Road, Bradford, BD12 0NQ.
The bicycle business, both physical and online, has seen a long string of closures as the market consolidates. CI.N has been tracking the trend for some time, with many of those businesses that have shut up shop talking openly about battling with sky high rents, competition both from online and direct sources and many other factors.
It is increasingly notable how many stores are reducing their shop floor space for the volume of bikes sold, instead investing in areas like the workshop.
CI.N’s annual Independent Retail Study, currently live for the 2020 edition, is closely tracking deeper trends related to what shops are investing and divesting in, what average sale prices are across various bike segments and plenty more. Bike shops that complete the ten-minute anonymised assessment stand to gain an exclusive first look at the data, as well as free goods.
