{{Short description|English online sporting goods retailer}} {{Use dmy dates|date=April 2017}} {{Use Irish English|date=April 2017}} {{Infobox company | name = Wiggle-CRC Group | type = [[Private company|Private]] | area_served = [[World]]wide | key_people = Will Kernan <small>([[board of directors|CEO]])</small>, Brian McBride <small>([[chairman]])</small> | industry = Online sports retail | genre = | products = [[Triathlon]] equipment; [[bicycle]]s, components and accessories; [[running]] shoes and apparel; [[Swimming (sport)|swimming]] products; outdoor and casual sports apparel; [[tools]] | services = | revenue = | operating_income = | owner = [[Bridgepoint Advisors]] | num_employees = | divisions = | subsid = | location_city = [[Portsmouth]] | location_country = [[England]], [[UK]] | origins = | homepage = [http://www.chainreactioncycles.com chainreactioncycles.com] | footnotes = }} '''Chain Reaction Cycles''' is an English online retailer of sports gear and equipment. It is the online brand of the [[Frasers Group]], having been bought after WiggleCRC went into administration with losses of £97 million.<ref name="wcrc-company-ending-1">{{cite web |author1=Tom Davidson |title=What the story of Evans Cycles can tell us about the future of Wiggle |url=https://www.cyclingweekly.com/news/what-the-story-of-evans-cycles-can-tell-us-about-the-future-of-wiggle |website=[[Cycling Weekly]] |publisher=cyclingweekly.com |access-date=20 April 2024 |date=7 March 2024}}</ref>
Previously it was an online retailer of cycling products based in [[Belfast]], [[Northern Ireland]].<ref>[http://www.belfasttelegraph.co.uk/business/news/danske-bank-gets-top-spot-in-belfast-telegraphs-top-100-companies-31214127.html "Danske Bank gets top spot in Belfast Telegraph's Top 100 Companies "]. ''Belfast Telegraph''. By Margaret Canning – 12 May 2015</ref> A 2016 merger with [[Wiggle Ltd]] resulted in the formation of the WiggleCRC Group, whose head office was in [[Portsmouth]], [[England]]. WiggleCRC entered administration in October 2023, and only the brands were transferred to the new owners.<ref name="wcrc-company-ending-2">{{cite web |author1=Will Jones |title='Once the warehouse is clear, it's game over' – WiggleCRC lays off almost entire workforce |url=https://www.cyclingnews.com/news/once-the-warehouse-is-clear-its-game-over-wigglecrc-lays-off-almost-every-staff-member/ |website=[[Cyclingnews.com]] |publisher=Cyclingnews.com |access-date=20 April 2024 |date=21 February 2024}}</ref>
==History==
Chain Reaction Cycles started out as a small bike shop named [[Ballynure]] Cycles which was opened in 1985 by George and Janice Watson<ref>[http://www.belfasttelegraph.co.uk/business/news/nicholls-fuel-oils-highest-ranked-family-business-in-belfast-telegraphs-top-100-31212003.html "Nicholls Fuel Oils highest ranked family business in Belfast Telegraph's Top 100"]. ''Belfast Telegraph''.</ref> using a £1500 bank loan in the small village of Ballynure in Northern Ireland.<ref>{{Cite web|title=25 years of Chain Reaction Cycles|url=https://www.moredirt.com/print_friendly.php?id=1311|website=www.moredirt.com|access-date=2020-05-08}}</ref>
In late 1999, the company registered [[domain name]] www.ChainReactionCycles.com and launched the Chain Reaction Cycles website.<ref>{{Cite web |url=http://www.retail-week.com/multichannel/chain-reaction-10-things-you-didnt-know-about-the-cycles-etailer/5041548.article?blocktitle=Retail-sector-in-the-news:-Cycle-retailing&contentID=7892 |title=Retail Week - Chain Reaction: 10 things you didn't know about the cycles etailer |access-date=9 November 2012 |archive-url=https://web.archive.org/web/20160822065117/https://www.retail-week.com/multichannel/chain-reaction-10-things-you-didnt-know-about-the-cycles-etailer/5041548.article?blocktitle=Retail-sector-in-the-news:-Cycle-retailing&contentID=7892 |archive-date=22 August 2016 |url-status=dead }}</ref>
The sales grew each year. In 2011 revenues were £136.4 million (€170 million).<ref name="irish">[http://www.irishtimes.com/business/transport-and-tourism/pretax-profit-of-170m-at-world-s-largest-online-bike-shop-1.548517 Irish Times - Pretax profit of €170m at world's largest online bike shop]. ''Irish Times''</ref> Its peak sales were in 2013, at £155.6 million.<ref>[https://www.bbc.com/news/uk-northern-ireland-29606471 "Ballyclare-based Chain Reaction Cycles sees its profits rise"] By Symon Ross ''BBC News NI'' 14 October 2014</ref> By this time the website was providing multi lingual service and currency options for many countries.<ref>[https://www.bbc.co.uk/news/uk-northern-ireland-15005951 BBC News - Online-bike shop Chain Reaction makes £13m profit]</ref>
In 2013, the company became the co-sponsor of [[An Post–Chain Reaction]], an Irish-Belgian professional cycling team established in 2006 by [[1988 Vuelta a España]] winner [[Sean Kelly (cyclist)|Sean Kelly]]. The arrangement lasted until the team folded at the end of the 2017 season. The team mainly competed on the [[UCI Europe Tour]] and took wins at races including the [[Tour of Britain]], [[Rás Tailteann]] and the [[Tour d'Azerbaïdjan]] while sponsored by Chain Reaction. [[Ryan Mullen]] won two [[Irish National Cycling Championships]] as an An Post–Chain Reaction rider, winning the road race in 2014 and the time trial in 2015.<ref>[https://www.cyclingnews.com/races/irish-road-championships-2015/time-trial/results/ Cyclingnews.com - Irish Championships 2015</ref>
By 2015, sales had decreased to £136 million, with shares mainly going to [[Wiggle Ltd|Wiggle]], a UK competitor.<ref>{{Cite web|url=http://www.irishnews.com/business/2016/10/19/news/sales-at-chain-reaction-cycles-down-after-currency-moves-746844/|title=Sales at Chain Reaction Cycles down after currency moves|last=Cunningham|first=Simon|website=The Irish News|language=en|access-date=2018-04-09}}</ref> The company also required investment.
A merger between Wiggle and Chain Reaction Cycles was announced in February 2016.<ref>{{Cite news|url=http://www.mbr.co.uk/news/wiggle-crc-merger-343812|title=Merger of Wiggle and Chain Reaction Cycles approved - MBR|date=2016-07-01|work=MBR|access-date=2017-06-06|language=en-US}}</ref>
Chain Reaction Cycles also retain a bricks & mortar retail store on Boucher Road, Belfast. The store sells a selection of their stock, and has a workshop for cycle maintenance.
CRC makes a small number of its own components and one complete bicycle under its own brand name, "Brand X".<ref>{{Cite web |title=Brand-X Road Bike review |url=https://www.bikeradar.com/reviews/brand-x-road-bike-review/ |access-date=2022-08-01 |website=BikeRadar |language=en}}</ref>
===Wiggle merger=== {{Main|Wiggle Ltd}} After the [[Competition Commission (United Kingdom)|Competition Commission]] approved the merger in July 2016 and Wiggle bought 100% of the Chain Reactions Cycle equity from the Watson family, the Wiggle CRC group was formed.<ref>{{Cite news|url=https://www.thetimes.com/world/ireland-world/article/crc-riding-high-at-82m-wnscxrdm6|title=CRC riding high at €82m|last=Daly|first=Gavin|date=2016-10-23|work=The Sunday Times|access-date=2018-04-09|language=en|issn=0956-1382}}</ref>
CRC closed their Northern Irish warehouse to integrate their stock into Wiggle's 'Citadel',<ref name=":0">{{Cite web|url=http://road.cc/content/news/230058-local-bike-shops-look-away-now-reports-worsening-losses-wiggle-are-exaggerated|title=Local bike shops look away now - reports of worsening losses at Wiggle are exaggerated {{!}} road.cc|website=road.cc|language=en|access-date=2018-04-09}}</ref> but retains its own branding and website. The combined Wiggle CRC group generated an annual revenue of over £300 million.<ref name=":0" />
In October 2017 Wiggle CRC bought German company Bike24 for over £100 million, which continues to operate separately.<ref name=":1">{{Cite web|url=http://road.cc/content/news/231147-wigglecrc-confirms-it-has-bought-german-e-commerce-site-bike24|title=WiggleCRC confirms it has bought German e-commerce site Bike24 {{!}} road.cc|website=road.cc|language=en|access-date=2018-04-09}}</ref> The group's combined revenue is now estimated at £500 million.<ref name=":1" />
On 27 October 2023, a notice was published to The Gazette announcing an administrator for the Wiggle Limited business following a period where the parent company's key financial backer pulled the plug on financing.<ref>{{cite web |author1=Mark Sutton |title=Wiggle Limited appoints administrator |url=https://www.cyclingelectric.com/news/wiggle-appoints-administrator |website=Cycling Electric |publisher=cyclingelectric.com |access-date=20 April 2024 |date=27 October 2023}}</ref> This eventually resulted in most of the staff being laid off in February 2024,<ref name="wcrc-company-ending-2"/> and in March 2024 the brands started to operate as part of the [[Frasers Group]] alongside [[Evans Cycles]].<ref name="wcrc-company-ending-1"/>
==References==
{{Reflist}}
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