You are reading a single comment by @frankenbike and its replies.
Click here to read the full conversation.
-
As per the trading accounts, Wiggle's heavy discounting, clearance sales and bulk stock sales post-cessation of trading led to total sales of £41.7m between 24 October 2023 and 23 October 2024. When costs — including £15.8m of stock purchases — were factored in, it left Wiggle having made £10.4m profit during the period of its administration
It's not clear to me whether that £15.8m is the cost of the stock they sold off or more stock they bought during the administration period
frankenbike
Generating income by selling off old stock for a fraction of what you paid for it is really stretching the definition of "profit".