Planet X going bust?

[TrevA]

https://www.cyclingweekly.com/news/brit ... nistration

[mattsccm]

Look elsewhere and you'll see that this may not actually be the case. Apparently there are other reasons for these official actions. Or they may go. All currently undecided. Shame I reckon.

[pete75]

Look elsewhere and you'll see that this may not actually be the case. Apparently there are other reasons for these official actions. Or they may go. All currently undecided. Shame I reckon.

I've looked elsewhere and there's the same seemingly gloomy news. It'll be a shame if it happens. Decent bikes at decent prices, often very good offers on parts like tyres and all run in a quirky way.

https://www.cyclingnews.com/news/britis ... s-suggest/

https://www.bikeperfect.com/news/planet ... nistration

[markjohnobrien]

Look elsewhere and you'll see that this may not actually be the case. Apparently there are other reasons for these official actions. Or they may go. All currently undecided. Shame I reckon.

I've looked elsewhere and there's the same seemingly gloomy news. It'll be a shame if it happens. Decent bikes at decent prices, often very good offers on parts like tyres and all run in a quirky way.

https://www.cyclingnews.com/news/britis ... s-suggest/

https://www.bikeperfect.com/news/planet ... nistration

Real shame if they go into admin as bought loads of stuff off them over the years. I’ll be gutted, actually.

[PH]

It's right there's a question mark in the thread title and that all the reports are written without stating any certainty.
Here's what we know:
They're late filing accounts
They've given notice of intention to appoint an administrator
They laid off some staff in the last few weeks

Anything more than that is speculation. I'll speculate that it doesn't look like a thriving company, but the notice of intention can be used as a stalling tactic. Not one used lightly, signalling to the world that all is not well, possibly damaging your reputation with suppliers. There may be a way out, no creditor has forced them into administration, trading while insolvent carries large penalties so they seem to remain afloat. I suspect if there was nothing going on in the background, they'd have filed for administration rather than giving notice.

[PedallingSquares]

I'm surprised it's taken this long.
They've been laying off staff and closing their shops over the last few years.From 3 shops to 0 with just online trading now.Having friends who worked there over the years and a long time personal friend who was taken on to sort out the mess about 4 or 5 years ago, it's more surprising it's still trading than this news.
Sad affair but there is an air of inevitability about it.

[TrevA]

Or perhaps they aren’t going bust after all?

https://road.cc/content/news/planet-x-c ... ued-301749

[LittleGreyCat]

viewtopic.php?p=1762515

I asked a similar question a short while back.
Response at the time was people didn't think so.

[re_cycler]

And they're back.

https://road.cc/content/news/future-pla ... old-301801

[Sweep]

And they're back.

https://road.cc/content/news/future-pla ... old-301801

but will it be the old PlanetX?
Venture capital?
Bought a lot of stuff from Planet X, clothes etc over the years - well pleased with.
Their recent troubles (which was unaware of) may explain the several pairs of unpadded bibs and padded 3/4 bibs I got for a tenner each.

Hope the staff remain well.

[re_cycler]

Not sure about venture capital if it's this Winlong garments.
https://find-and-update.company-informa ... ng-history

[pete75]

Not sure about venture capital if it's this Winlong garments.
https://find-and-update.company-informa ... ng-history

Winlog Garmets is wholly owned by Baaj Capital LLP. This appears to be some sort of venture capital/private equity type organisation. https://baajcapital.co.uk/

[PH]

As posted above, I assumed something was going on in the background. They were in trouble, it's been sold on a per-pack arrangement, that is facilitated by the administrator before the company goes into administration, I expect there'll be some unhappy creditors.

[NATURAL ANKLING]

hi,
I brought quite a bit of stuff from planet X in the past but I'm worried about placing any orders now?

I see they are still selling mountain bikes with carbon forks?
This is after a doctor was paralysed from the waist down after carbon fork collapsing on him from planet X?

[Jdsk]

...
I see they are still selling mountain bikes with carbon forks?
This is after a doctor was paralysed from the waist down after carbon fork collapsing on him from planet X?

Discussion on cyclechat:
https://www.cyclechat.net/threads/man-w ... on.295145/

Jonathan