ProBikeKit to close

Following reports circulating in the latter half of this week, CyclingIndustry.News understands that ProBikeKit is to close.

THG said in a statement:

“Following a strategic review of our OnDemand division, as announced in THG’s trading update of 17 January 2023, we can confirm that we are proposing to discontinue operations in the OnDemand division across all sites.

“We are currently consulting with impacted colleagues and will take steps to minimise the number of redundancies. We are also consulting with certain colleagues in THG Studios where, following the closure of OnDemand, we expect associated workflow to reduce proportionately.

“THG is committed to supporting all affected colleagues and, where possible, we will endeavour to find colleagues alternate roles within the wider THG Group.”

ProBikeKit was established in 1998, one year ahead of fellow internet retailer and rival Wiggle. The Hut Group bought PBK in 2013 from Encore Capital and its management. It joined THG’s Group Lifestyle division alongside existing brands of Myprotein and Myvitamins. The sector was then growing at around 15% per annum.

THG is cutting around 180 jobs in Manchester, according to the Manchester Evening News. It hasn’t been a great few weeks for the city, with INSYNC cutting its headcount and reducing staff numbers in Manchester.