BikeBiz Bicycle and cycling retail news
Fancy a £1500 carbon track frame for £211? Sorry, you’re too late, but somebody’s bagged a bargain today. In fact, they’ve bagged hundreds of bargains – 600+ items from Planet X were put up for auction, and many sold for a fraction of their retail value.
£700 carbon wheels sold for £200. Boxes of Planet X branded jersies were sold alongside steel forks, boxes of puncture repair kits, bagged gloves, and so on. It was a long list.
The auction was held today in Uttoxeter, Staffs, and was organised by John Pye auctions. None of the goods – many in original packaging – come with warranties or guarantees.
Earlier this month BikeBiz reported that Planet X had made many of its staff redundant.
The Rotherham-based company employed 118 staff, and is run by founder Dave Loughran. Its last accounts show an annual turnover of £18.3 million, and profit of £109,689. In 2015 the company made a loss of £86,594 on a turnover of £20 million.
