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Concept Cycling Group: Victim of Poor Retailing Conditions

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MANCHESTER, UK (Sep 13) – The Concept Cycling Group which went into administration September 7, has become the victim of general poor retailing conditions in the UK. This was stated in a press release from the appointed administrator KPMG Corporate Recovery in Manchester, that further said: “The administration was also prompted by the loss of […]

MANCHESTER, UK (Sep 13) – The Concept Cycling Group which went into administration September 7, has become the victim of general poor retailing conditions in the UK. This was stated in a press release from the appointed administrator KPMG Corporate Recovery in Manchester, that further said: “The administration was also prompted by the loss of key customers.”
Brian Green and Paul Flint from KPMG have been appointed joint administrators to Concept Cycling Group Ltd and its three subsidiaries, Concept Cycling Limited, Wheelbase (UK) Limited and Acorn Sports & Leisure (UK) Limited. Commenting on the administration, Paul Flint said: “Currently, our intention is to trade the companies while the possibility of achieving a going concern sale is explored. We will be in regular dialogue with the suppliers and employees over the next few days and hope to conclude a sale which protects as many jobs as possible.” Currently 205 people are employed at the Concept Cycling Group and its subsidiaries. For further information contact KPMG Manchester, + 44 (0) 207 694 8773.

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