JD Sports has filed a notice of intention to enter administration for subsidiary company Go Outdoors, the company who owns Calibre bikes. This will have fans of the budget bikes wondering when or if they’ll be able to buy another Calibre.
The statement posted on the London Stock Exchange website states:
JD Sports Fashion Plc (the ‘Group’) notes the speculation with regards to the filing of a Notice of Intention to appoint Administrators (‘Notice’) at Go Outdoors (‘Go’).
The Group can confirm that it has considered a number of strategic options for Go and that Go’s directors have lodged the Notice in Court. This Notice creates an immediate moratorium around the company and its property which lasts for ten business days. During this moratorium, Go’s creditors cannot take legal action or continue with any existing legal proceedings against the company without the Court’s permission.
Administrators have not yet been appointed and the Group will make no further comment at this time.
Go Outdoors may be best known to us riders for their exceptional value bikes – which have sold out during the current demand for bikes here in the UK – but they also sell outdoor gear for all kinds of activities, including a lot of camping equipment. With the COVID-19 restrictions, companies have seen a drop in demand for kit like tents, water sports and holiday gear, so it’s perhaps not a surprise that the company is struggling. That said, those that make it through might expect to see a future demand for camping gear if travel within the UK becomes easier than getting abroad.
It’s understood that Go Outdoors could be restructured, which might give some hope that the Calibre brand could survive if bought out or kept as a separate entity by JD Sports. However, as the design brain behind the brand, Mike Sanderson, left last year, would the brand be so successful without him and the supply chain power of Go Outdoors?
We’re endeavouring to find out more – will let you know anything as we get it.
JD also own Blacks / Millets, both of who stock the Calibre range already… if I were a betting man, I would say they’ll likely move ownership of Calibre over there rather than sack off one of their most successful brands 😉
Has Mike taken his relationship with Polygon Bikes to Planet X? The Bossnut and Sentry seem to be reworked Polygon bikes (to Mike’s spec?) manufactured by Polygon in Indonesia. That would be good for Planet X but bad for Calibre.