All Signa Sports United articles
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News briefsFahrrad.de founder takes over key assets of insolvent Internetstores
In mid-January, insolvency administrator Dr. Christian Gerloff informed the creditors that several interested parties had made binding offers to take over the insolvent bicycle and outdoor e-commerce retailer Internetstores GmbH – not for the entire group but for individual assets. The core sales platforms Fahrrad.de and Bikester, as well as ...
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News briefsFrasers Group revives Wiggle in strategic acquisition deal
Frasers Group, the parent company of Sports Direct, has made a strategic move with the acquisition of online bike retailer Wiggle and saved the company from insolvency following the collapse of Signa Sports United (SSU). The acquisition expands Frasers Group’s already diverse portfolio of cycle brands, which includes Evans Cycles ...
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News briefsInternetstores at risk
The website Exciting Commerce reported that no investor has been found for Internetstores GmbH, a former subsidiary of the online sporting goods retailer Signa Sports United (SSU), which is also insolvent. Internetstores includes more than 32 web stores for bicycles, bicycle accessories, sporting and outdoor products, including Addnature, Bikester, Brügelmann, ...
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Data & Analysis2023 Bicycle Industry Stock Chart: Bet on interest rate cut boosts year-end rally
Here you can find out why the global bicycle stock market performed better than expected last year and what the role of the selected stocks in our OIC Bicycle Stock played.
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ArticleInsolvent WiggleCRC’s new business model focuses on the UK
In the wake of the insolvency of Signa Holding, the British subsidiary WiggleCRC of Signa Sports United (SSU) also had to file for insolvency on Oct. 24. The appointed administrators Anthony John Wright and Alastair Rex Massey of London-based management and restructuring consultancy FRP Advisory have now announced a new ...
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News briefsSigna: Benko steps down, hands over chairmanship
As the company announced on Nov. 8, 2023, Austrian real estate investor René Benko has stepped down as Chairman of the Advisory Board of Signa Holding and handed over the chairmanship to Arndt Geiwitz. The German restructuring specialist is also taking over the chairmanship of Signa’s shareholders’ committee, as reported ...
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ArticleSSU: What has happened so far – and what may still come
In a joint statement, the two insolvency administrators appointed, Dr. Christian Gerloff from the Munich law firm Gerloff-Liebler Rechtsanwälte and Stefan Meyer from Ulm-based Pluta Rechtsanwalts GmbH, point out that the operational business of the two insolvent Signa Sports United (SSU) spin-offs Tennis-Point GmbH and Internetstores GmbH (alias Internetstores Group, ...
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News briefsSSU files for insolvency
Sports e-commerce company Signa Sports United (SSU), controlled by Austrian investor René Benko’s Signa Holding, has filed for insolvency. The Bielefeld District Court, where the application was filed, appointed Munich-based lawyer Christian Gerloff as insolvency administrator. The German business newspaper Handelsblatt was the first to report the insolvency filing, which ...
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News briefsInternetstores GmbH files for insolvency
Stuttgart-based Internetstores GmbH, which includes the bike and outdoor online shops Fahrrad.de, Bikester, Campz and Addnature, filed for insolvency at the Stuttgart District Court on Monday afternoon. The company is part of Signa Sports United (SSU), the sporting goods division of the Signa Group founded by Austrian investor René Benko. ...
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ArticleWave of insolvencies at SSU seems unleashed
While Signa Sports United (SSU) offshoot Internetstores GmbH (Addnature, Bikester, Brügelmann, Campz, Fahrrad.de, Probikeshop) is said to have informed its suppliers of impending insolvency in self-administration and British affiliate WiggleCRC is believed to have done the same in its home country, German Tennis-Point GmbH has already filed for insolvency on ...
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ArticleSigna Holding sells Sport Scheck to British Frasers Group
On Oct. 17, Signa Retail Department Store Holding GmbH announced the sale of the German sporting goods chain SportScheck to British sporting goods and fashion retailer Frasers Group. Frasers runs, among other brands, Europe’s largest retailer of sports and fitness footwear, apparel and equipment, Sports Direct. No details were given ...
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ArticleLargest SSU shareholder cancels equity commitment
Shortly after deciding to delist from the NYSE, Signa Sports United (SSU) announced that it had received a termination notice regarding the unconditional equity commitment letter from Signa Holding GmbH, a privately held Austrian real estate and retail company and a subsidiary of the company’s largest shareholder, Munich-based Signa International ...
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ArticleQ3 Bicycle Industry Stock Chart: Bike manufacturers had to cut back
Even though the long-term prospects of the bicycle sector are looking promising, it is currently operating in difficult terrain. This is also reflected by The Outdoor Industry Compass’ Q3 analysis of the bicycle industry stock market.
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ArticleSSU delists from NYSE, new CEO
After assuming earlier this year that the worst of the market disruptions were over, Signa Sports United N.V. (SSU), the Berlin-based sports e-commerce specialist, has now announced an acceleration of its strategic realignment and performance improvement program. Ahead of putting its Q3 numbers on the table, the company is ...
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News briefsSSU appoints former Accell Group CEO to its board
German, U.S.-listed cycling, outdoor and team sports e-commerce retailer Signa Sports United N.V. (SSU) has announced the appointment of former Accell Group CEO Anthonie “Ton” Anbeek to its board of directors. The appointment is effective April 1, 2024. Source: Accell Group Ton Anbeek With Anbeek, SSU said ...
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ArticleQ2 Bicycle Industry Stock Chart: Long-term outlook forecasts full recovery
In the current economic environment, the stock market – regardless of the sector – continues to be on a rollercoaster ride. This also applies to the bicycle stocks monitored by The Outdoor Industry Compass.
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ArticleSSU is hoping the worst market disruptions are over
Signa Sports United (SSU), while bracing for less-than-stellar FY23 results impacted by macroeconomic headwinds and high industry inventory levels, is taking steps to generate €100 million in Ebitda savings by FY25 and less operational complexity in FY24 that will return it to profitable, long-term growth. Meanwhile, the Germany-based e-commerce company, ...
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ArticleAddnature with losses in FY22, no immediate improvement expected
According to ehandel.se, Swedish outdoor online retailer Addnature, founded in 2000 and a wholly owned subsidiary of Internetstores Group since 2013, which in turn is part of Signa Sports United (SSU), has had a year of ups and downs. In its most recent financial statements for fiscal 2022 (October 2021 ...
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News briefsSigna Sports United plans to return to profitability in fiscal 2024
The sports e-commerce company Signa Sports United (SSU) is undergoing a strategic realignment assessment to generate long-term shareholder value that it intends to reveal at the end of Q2 but is projecting an ongoing challenging environment through the remainder of the FY due to inflationary pressures impacting both consumer sentiment ...
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News briefsInternetstores announces new CEO
Internetstores has a new CEO in Torsten Waack van Wasen, who succeeds Max Heimann as leader of the multichannel specialty retail giant. According to company news, Heiman left at his own request after taking on the role only about six months ago. The digital specialist retailer for bicycles includes brands ...
