PxPixel
Derby year end results will be poor - BikeBiz

Derby year end results will be poor

Raleigh staff have been warned that the results wont make for pretty reading. However, theres a silver lining, Derby is so heavily in debt its widely expected that the group will be split up and Raleigh freed of Derbys debt millstone
Author:
Publish date:

The likelihood of an MBO at Gazelle increases by the day and its improbable that the Derby Cycle Corporation can be kept whole much after it releases its annual results on April 2nd.

Derbys quarterly filings to the US Security and Exchange Commission make it plain that only a miracle could allow the Q4 results to make up the shortfall in cash.

In a series of departmental meetings Raleigh MD Philip Darnton has been open and honest with his staff and has explained the dire situation Derby is in.

Derbys CEO since January Alan Finden-Crofts (and its former co-owner, when it was a highly successful bicycle group) is reported to be lining up possible recapitalisation and has confirmed that MBOs are waiting in the wings.

He is treating talk of MBOs as very much a positive: nobody would want to take on the running of a hopeless case and if local managers want to buy their companies they must have faith they can be turned around.

Gazelle, of course, is highly profitable and would be an attractive MBO opportunity for its Dutch management.

Finden-Crofts who is currently in America is reducing costs across the board at the various Derby-owned companies and is righting the wrongs of the previous management.


NB

A much fuller piece on the current Derby/Raleigh situation will be included in the next issue of BicycleBusiness.

Featured Jobs

the cycle hub

Showroom Manager

The Cycle Hub I Dubai, United Arab Emirates I Competitive Package & Bonus I Date Published Tuesday 26th June 2018

Giant St Paul Logo

Bike Fitter / Sales Person

Giant St Pauls I City of London I Salary: Negotiable Dependent on Experience I Date Published Thursday 21st June 2018

CRC_Logo_620x349-1

Bike Technician

Chain Reaction Cycles I Ballyclare I Competitive Salary & Benefits Package I Date Published Monday 2nd July 2018

Canyon_Logo_1(1)

Brand Content Writer

Canyon Bicycles GmbH I Koblenz, Germany I Salary: Up to €38,000 I Date Published Tuesday 3rd July 2018

CRC_Logo_620x349-1

Retail Sales Advisor

Chain Reaction Cycles I Belfast I Competitive Salary & Benefits Package I Date Published Monday 2nd July 2018