Evans Cycles

I am not sure I would have said that frugality is the most frequently celebrated quality on this forum.

Well, obviously not. That would be sanctimonious smug self-righteousness. I'd say frugality wouldn't even make the top ten.

Richard Osman was on Twitter today discussing what the difference is between self-righteous and sanctimonious. Still time to join in.

So he was. Clearly overlap between those two areas of the linguistic Venn diagram though.

And Sharon Osbourne was giving her thoughts on Brexit (in favour). It's been quite a day.

Well, it's always good to know there are some depths I won't stoop to. Pro-Brexit advocating being one of them. Being Sharon Osborne being another.

Mike Ashley already owns Triantelope brand Tri UK (Cervelo awarded TRI UK ‘Best P5X Performance dealer in Europe’) with a few stores and there were Zipp wheels on sale on the SD website.

So, is there any reason I shouldn't take my bike to an Evans for repair work? Are all the mechanics going to be replaced with 14yo kids with experience selling trainers and nothing else?

Thinking the same thing. Need my alfine serviced

Totally agree with you Ed and I said 'could and possibly' as there are quite a few other factors which comes into play.

One of them is that they could have reached out to the lenders and/or landlords to restructure the debt much earlier.

Especially since the signs were already there with high street retailers falling like Dominos, they'll be silly to think that they'll be unaffected and when they realised it (bit too late...) made another mistake thinking that deep discounts and the volume game would get them out of it.

Too many whaammmyyyy to count!

Still I see a lots of potiental way to prevent the business from going under, they’re simply stuck in those old school company way of freezing budget, no overtime, make shop floor staff build bicycles (and get it checked over by the mechanic) despite not being their original roles, less staff on shop floor/in workshop (we used to have two mechanic and bike builder, now just the one and a shop floor staff building bikes).

And of course. Spying on other stores on top of this.

And of course. Spying on other stores on top of this.

Or described more accurately and less hysterically comp shopping, it is a standard practice across all retailers.

it is a standard practice across all retailers.

Can confirm. Very common

At a large place like Evans you'd think they would pay an agency to do it though, not get the shop floor people to do it. Right? That's how I understood Ed's frustration with it.

Next they're going to get shop floor staff to put on Randos. What's the world coming to? :)

I'll say that the senior/secured lenders rolled over the debt (possibly with a discount (or not) and/or a re-priced of the debt yield) with the non-secured creditors (tradesmen, non-consignment suppliers etc) taking the brunt of the hit.

The list of creditors (owners equity are usually a subordinated/unsecured inter company loan via HoldCo to the OpCo/BidCo) should have been filed with the Companies House and the Administrators, hence should be available if you dig around a bit.

They also spend a lots of money on motivational stuff to staff, telling us about the “spiral of positivity”, I recall that cost them about £40,000.

Also, they offer a £1000 bonus for any mechanic whom stayed from April to September (I didn’t stayed long enough to get it, ship was sinking).

They can pry my torque wrench from my cold dead hands :-p

40k for a fucking poster in our kitchen?...

Which one you working in Joni, what happened to courier life?

Pay disappeared along with the appearance of the east end hipsters on the circuit over the summer. I'm over in Fulham

40k for a fucking poster in our kitchen?...

And printing off our faces to put on it to see which one of us is the most positive...

And printing off our faces

Takes me back to GCSE photography.

They just made random ones on ours.

SPARK FOOL, SPARK!