Whats up with Pegasus?

Its Monday, weve had our first threatening phone conversation. Welcome to the world of bicycle trade reporting..
Publish date:

We have had (unconfirmed, stress, unconfirmed) reports that Pegasus Specialist Cycles of Becton, London, has made all its staff redundant and is being operated by MD, Philip Levy, as a one-man show. This is reported to be until Christmas only when the company will, allegedly, be put into receivership.

Pegasus import childrens bikes and BMXs. The unconfirmed reports weve had in (from disaffected staff and an IBD waiting for goods) say Levy will carry on trading with his existing stock and with the bikes already on the water.

When we spoke to Levy this morning he refused to confirm or deny anything in this news story, saying If any of this gets into print Ill come up there and sort you out myself.

He also demanded to know where we got our information from: If its a shop I want to know who they are because they definitely wont get supplied.

We suggested he put his side of the story because any rumours of an impending collapse would spread like wildfire on the IBD grapevine with or without our help. He calmed down and we started to tell him what we had been told. Mid-flow the phone went dead.

BIKEBIZ COMMENT: We are not The Sun, or Anne Robinsons Watchdog, were in this trade for the long-term. We will not stiff anybody: the trade is too small and memories are too long. We take no pleasure in reporting the discomfort of any company in distress, we merely report whats happening out there and try to put facts where before there were Chinese whispers.

Philip Levy accused us of being sensationalist. Its a charge that rankles with us because we just report what other people tell us but then use our editorial skill and judgement to filter out the dross and just print the important bits. We keep to the facts, something rumour mongers dont have to do. We can help quash rumours before they do too much damage. Putting the facts down on paper in a trade publication is a wonderful way of setting the record straight.

Thats how we see it. If you see it differently please post your comments to the bulletin board.

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