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If they're spinning freely it'll be a proper bugger to remove them. Much better just to retighten them. You can use the proper tool if you can find one, but an M5 bolt, M5 nut and an M5 penny washer will do the job just as well. Thread the nut onto the bolt a good way along it, then put the penny washer on, then screw the whole lot into the rivnut (if it's spinning you may have to use some needle nose pliers to hold it in place). Then, holding the bolt in position with a spanner, tighten up the nut towards the rivnut until it's nice and tight. This will re-crimp the rivnut and tighten it up. Remove bolt, et voila.
Brommers
chez_jay
Anyone know a S London bike shop that can remove and replace rivnut bottle cage bolts?