Liquidators appointed at Wiggle CRC’s parent company as end nears

Liquidators have been appointed to Wiggle CRC’s parent company Mapil Topco, indicating that the online retail chain is close to shutting down. As the retailer enters the final phase, their website is advertising a 'final clearance' sale, with up to 80% off items still in stock.

A notice by Mapil Topco submitted to the Companies House website on 11 March confirmed the latest news, although no further details are currently available, with the website simply stating that “this document is being processed and will be available in 10 days”. The document, when published, is likely to outline who the appointed liquidator is.

Wiggle is currently still trading, with massive discounts across their website. The stock and sizes are limited, but there are some deals to be had as Wiggle cuts prices to clear all inventory.

• Read more: Is it safe to keep ordering from Wiggle and Chain Reaction?

Liquidators are appointed to act on behalf of a company to sell any of its assets before the company closes, so the news is all but confirmation that the expected end of Wiggle CRC is nearing.

The company has officially been in dire straits since October 2023 when it entered administration amid financial woes, including £26.7 million in unpaid debts. FRP Advisory’s Alastair Massey and Tony Wright were subsequently appointed as administrators and they were confident that a new buyer for Wiggle could be found, citing “considerable interest”.

One of the interested buyers was rumoured to be Mike Ashley’s Frasers Group which already boasts Evans Cycles within its umbrella, and things appeared to have taken a step forward when reports emerged last week indicating that a deal had been agreed. According to the report in The Times, Frasers Group had acquired Wiggle, along with its intellectual property, for less than £10 million. The intellectual property would include rights to its in-house brands, including Vitus, LifeLine and dhb.

As of yet, there hasn’t been any official confirmation of a sale. If a sale has been agreed, it is possible that the Wiggle name could pass over to the Frasers Group umbrella, with only Wiggle’s parent company folding, or Frasers Group could take Wiggle’s in-house brands and sell them under one of its existing companies.

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