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Hot of the press! Performance files Chapter 11
Last Post 01/14/2019 04:39 PM by 79 pmooney. 31 Replies.
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Cosmic Kid

Posts:2820

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11/20/2018 03:42 PM
Some of the ones that jump out / concern me are:

Vista Outdoor (Bell, Giro, etc)
Todson
Highway 2
Marin
Lezyne
Accell NA (already hurting...another $300K could push them over the edge)

Most of thsoe concerns are either over the size of the debt (Vista) or what I perceive as to the size of the debt vs. the size of the company (i.e. $200K to Lezyne is a helluva lot more than $200K to Fox).
Just say "NO!" to WCP!!!!
Dale

Posts:1185

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11/20/2018 05:45 PM
That as what I looked at-- Lezyene and Accell jumped out for the same reason as you, and Bell/ Giro... how the heck do you let receivables get to that level? Someone's head should roll over that.
79pmooney

Posts:2156

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11/20/2018 08:53 PM
I don't see Advanced Sports. owner of Fuji, on that list. Good.

Ben
79pmooney

Posts:2156

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11/20/2018 08:54 PM
I don't see Advanced Sports. owner of Fuji, on that list. Good.

Ben
Cosmic Kid

Posts:2820

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11/20/2018 10:45 PM
Ben, ASI is part of the filing. They, along with Performance and Nashbar, are bankrupt.
Just say "NO!" to WCP!!!!
79pmooney

Posts:2156

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11/20/2018 11:49 PM
Double post.

Dang, ASI is in this mess.  I hope someone saves Fuji (though I'm guessing Fuji is now just a name and the bikes come off molds they do not own.

Ben
Cosmic Kid

Posts:2820

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11/21/2018 08:36 AM
No, Fuji has a number of proprietary frame designs, both on the road and the Tri side (would assume the same for MTB).

But they are a far cry from the brand you once knew and loved. Their old steel frames had a “soul” to them and were extremely well-built. Somewhere along the way, they became a “value” brand and lost what made them unique. They then did a lot fo weird frame designs, that even if they were proprietary, looked they they were just open-mold Chinese frames.

Their more recent efforts have been better (their Norcom Straight Tri frame was actually a really nice frame design) but the brand was pretty tainted by then. They became reliant on Performance simply because they could not get enough IBD’s to carry them.
Just say "NO!" to WCP!!!!
Dale

Posts:1185

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11/22/2018 08:20 AM
There are some black holes bike brands go from which they never return- Performance, Dicks, REI, Bass Pro (Ross bikes anyone?)

Once they go there IBD's treat the brand as radioactive.
Cosmic Kid

Posts:2820

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11/22/2018 09:01 AM
I’ll never stop marveling at the IBD’s ability to shoot themselves in the foot...they get high and mighty about bike brands going into certain retailers, but yet continue to embrace others who have a multi-channel distribution strategy.

Discount shops / chains aren’t going away, nor are online sales. Using a brands multi-channel distribution can actually enhance their business in some areas. But the IBD’s are so locked into this ancient idea that they need to “compete” on price vs sporting goods or the mass...it is arcane.

If a supplier builds a solid multi-channel strategy, that offers unique benefits to all channels, it can really be a win-win opportunity. The Mass / Sporting Goods channel gets the validity of carrying an “IBD worthy” brand and the IBD gets the massive exposure of the brand to millions of consumers, enhancing recognition when a customer walks into their shop.

At Brunswick, I worked really hard at developing an IBD- specific strategy for our product line....a “value” brand was not gonna cut it. So we developed all new frame platforms and product spec that shop guys would appreciate. We were beginning to get some traction back in the IBD when they sold the company to Pacific...and that sealed the brands’ fate.
Just say "NO!" to WCP!!!!
Nick A

Posts:580

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11/26/2018 11:43 AM
Understanding market forces has never been my strong suit. But, wow, I remember when Performance started, and actually getting the owner answering the order line back in the day. You'd think that between that, and what we have now, would have been a more conservative, viable, and still wildly successful venture.

N
longslowdistance

Posts:1840

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11/26/2018 11:52 AM
I remember back in the 80s when they were just a shop in Carrboro, NC, making innovative clothing. The discount table with returns and seconds was full of great deals. I still have some of the stuff from then - very well made.
Nick A

Posts:580

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11/26/2018 02:35 PM
Cool. Just when you think you're old school, there's someone even older schooler. LOL.

N
Orange Crush

Posts:2564

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11/26/2018 04:54 PM
Haha - LSD, I am still wearing a Bonfanti cycling jersey from the late 80s. They don't make em like they used to. I had a jacket that lasted till last year but zipper finally gave in.
Cosmic Kid

Posts:2820

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01/14/2019 11:55 AM
*Long, slow whistle*

Specialized to pay ASE $700K for the Roubaix trademark. Dayum...that is a lot of cabbage.
Just say "NO!" to WCP!!!!
79pmooney

Posts:2156

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01/14/2019 04:27 PM
Posted By Orange Crush on 11/26/2018 04:54 PM
Haha - LSD, I am still wearing a Bonfanti cycling jersey from the late 80s. They don't make em like they used to. I had a jacket that lasted till last year but zipper finally gave in.

Sometimes they do.  I have 4 Mavic jerseys that were on big time sale a the local bike chain.  Marked down from ~$100 to $30.  Poor zippers.  But the rest of the jersey is very well made and thought out.  These are sturdy off-season jerseys, fluorescent orange with lots of silver reflecting tape (very well done, zero issues in four years), big, sturdy pockets and (outside the zippers) really good workmanship.  Also fit very well and are a joy to ride. 

For 3 seasons they are my most worn jerseys by a lot.  Visibility yes, but also simply the best non-summer jerseys I've ever had.

Oh, the zippers?  I picked up 4 high quality orange zippers at an outdoor fabric store going out of business for almost nothing.  Had the local laundromat send jerseys and zippers to their seamstress for excellent work.  Turned them into $60 jerseys but still a steal.

Ben
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