Frasers Group to relaunch Wiggle and Chain Reaction websites this week

Mike Ashley’s company has also acquired the rights for Wiggle’s in-house brands, including Vitus, as it attempts to become “the no.1 sporting goods retailer in Europe”

Clock05:29, Monday 25th March 2024
The Wiggle and Chain Reaction Cycles websites will relaunch this week

© GCN

The Wiggle and Chain Reaction Cycles websites will relaunch this week

The Wiggle and Chain Reaction Cycles websites will relaunch this week under the new ownership of Frasers Group, the company has confirmed in a recent press release.

Both websites briefly went inactive last week with holding messages but this is set to only be a brief interlude before they launch under the new banner of Frasers Group for the first time.

Mike Ashley-owned Frasers Group acquired Wiggle CRC for less than £10 million at the beginning of March after the company’s well-documented plunge into administration. That came at the end of October 2023 amid financial woes, including £26.7 million in unpaid debts. FRP Advisory’s Alastair Massey and Tony Wright were subsequently appointed as administrators and they expressed confidence that a new buyer for Wiggle could be found, citing “considerable interest”.

Multiple rumours linking the company with new buyers followed, including Halfords, but Frasers Group emerged as the leading contender to acquire the company, which has now been officially confirmed through the statement released on Friday.

Along with the confirmed relaunch of the Wiggle and Chain Reaction websites, Frasers Group has also confirmed that it has bought the intellectual rights to Wiggle’s in-house ranges, which includes Nukeproof, Vitus, Ragley, Prime, DhB, Lifeline, Mobi and Fohn.

The move is a part of Frasers Group’s attempt to become the “no.1 sporting goods retailer in Europe”, managing director of wheels, Russell Merry, said in the press release.

“Wiggle and Chain Reaction are well-established names among riders in the UK and across Europe and the acquisition of both brands is consistent with our ambition to become the no.1 sporting goods retailer in Europe,” he said.

“It also brings with it the opportunity to work with respected partners through the highly admired, award-winning product lines that Wiggle and Chain Reaction had built. We are excited to explore partnerships with suppliers or distributors looking to expand their offering or an organisation looking to get a foothold in the market by leveraging some established names.”

Wiggle and Chain Reaction Cycles will join Evans Cycles in Frasers Group's line-up of cycling retailers. It acquired Evans Cycles in 2018 in similar fashion after the company also hit financial problems.

Alongside its cycling brands, Frasers Group is also home to other notable sporting brands, including Sports Direct and Slazenger.

Frasers Group hasn’t confirmed any more details about the new websites just yet and the exact date that the websites will relaunch is currently unknown, with the company only stating last Friday that it "is due to take place next week".

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