FRP officially begins sales process for WiggleCRC

The online sports retailer – most known for its involvement in the cycling industry – fell into administration late last month after its parent company, Signa Sports United, announced it had begun a restructuring process following the termination of a €150m equity commitment from an affiliate of its largest shareholder.  

At the start of this month, Wiggle’s administrators announced it had to make 105 people redundant from the company, including 70 from Wiggle, with 28 from its Chain Reaction and seven from its Hotlines businesses.  

It’s also been reported that Frasers Group is reportedly weighing up an offer the company, which between 2014 and 2018 co-sponsored the professional cycling team WiggleHigh5.

In its latest update, FRP Advisory partner Alastair Massey said: “We’ve officially launched our sales process for WiggleCRC.

“This is one the market’s best-known stable of brands and has solid fundamentals and further growth potential. In the few weeks we’ve been in office, we’ve seen strong trading continue thanks to a loyal and extensive customer base.”