The global cycling industry is in a complete meltdown. Too much stock purchased during Covid compounded by return to work and this little thing called interest rates has decimated sales.
Sigma Sports is in real financial trouble
https://road.cc/content/news/wiggle-chain-reaction-cycles-records-ps97-million-loss-303605
Within Australia 99 Bikes was reported in the AFR yesterday as having their valuation come off by 50% since the start of the pandemic
I don"t think Cycliq will be shooting the lights out (pun intended) anytime soon but maybe @dealer81 has a different view.
