BikeBiz Bicycle and cycling retail news
New Raleigh MD John Spon-Smith confirmed to bikebiz.co.uk that the deal with Acorn had been signed this morning:
"We’ve taken the decision in the best interests of our customers to try and ensure a continuity of supply – subject to availability – in the run-up to Christmas. And this despite the fact there are problems with the debt incurred by the company that went into bankruptcy."
Raleigh and the administrators working on the collapse of Crabtree Sports and Leisure are currently embroiled in a ‘retention of title’ dispute concerning £100 000 worth of bikes supplied to Crabtree just before it went into receivership.
As is the way of the world, the dispute is being handled by respective sets of lawyers.
