Dear Kirstin,
Thank you for your concern. Your comments are very much appreciated and I am sure really helpful to everyone on the forum.
Let me answer your questions in turn.
1. What was the trading period agreed at the 24 jan 2019 CVA ?
50cycles traded from 2003 to 2019
We sold and delivered over 30000 bikes whilst representing a couple of popular brands over that period. Namely Ezee, Kalkhoff and BH.
During that time we remained focus to deliver as many bikes as was humanely possible for a small family run business. Our intention has always been to be the best and grow the UK electric bike market which would reduce congestion and pollution for cyclist. We looked to achieve the tipping point where more cyclists on the road equates to a safer environment as we experienced in Holland & Germany. The ebike market has not taken off in the UK as well as Germany that sells 20x more ebikes a year. We should all really do more about this.
As we know and already pointed out in this thread there was a serious problem with Kalkhoff Impulse 2.0 motors which was well noted and documented on this website of which we should have listened sooner actually and acted quicker but Kalkhoff assured us everything was ok. Apologies to any of those that made us aware and we did not take quicker action earlier. We were so enthusiastic about how good Kalkhoff had been that we were blinded and never imagined a product failure on that magnitdue could happen. This caught us out in our best year achieving a turnover of £3.2m. Not bad for a small business from the midland that started life as a hobby to introduce new technology from Japan which is where the business was born.
Anyway, after the German company had delivered 12 months worth of faulty of bikes unknowingly to us which then was 2000 units of mainly Impulse 2.0 motors that season. After selling out of all those units we later found out that after 500 miles the motors were no longer usable. This was due to the wrong grease being put in at the factory where the motors were made. This resulted in slow corrossion and degradation of the nylon cogs in the Impulse 2.0.
The Kalkhoff problem was resolved at the expense of 50cycles which was carried over and resulted in the CVA. This was a very rigorous process and took a lot of hardwork to get us in that position. It was an opportunity gratefully received which has given us time to work out the best way forward.
After we had built the Kalkhoff brand up to being quite highly regarded in the industry, Derby Cycles felt it was their time to go direct and leave us holding the can with 2000 faulty bikes to deal with at our own expense. This cost 50cycles Limited dearly and its good standing in the business. Despite this we are proud of the fact that we did manage to exchange every single one of those customers motors ourselves and over the years kept the majority of customers on the road. We cannot please everybody all the time but we did break our selves trying to do so.
We recently did a trade in program which was very satisfying seeing some of the old favourites fly through the door. The good old Ezee Torq which Flecc kindly wrote about, The Pro Connect with Rigid forks which received blinding reviews in Atob with its Panasonic motor and big battery. The Agattu 45 cm that sold in the thousands with the Impulse 1.0 all over the lands.
Yes if the Impulse 2.0 motors had not failed and Derby Cycles were not greedy I am quite sure Kalkhoff and 50cycles would be the leading ebike brand in the UK today. However that was not to be and we cannot live in the past otherwise it becomes a reflection of the future, and nobody wants that right. Nothing last forever and we are grateful for the times we had and would like to thank each and everyone of the 30000 customers that we had the pleasure of deliverying bikes to over a 15 year period.
2. Did 50c accept orders after that date ? If so why is that not wrongful trading and have KSA considered their duties to make a report on the company directors
50cycles Limited can continue to take orders for the next few days but ceased trading nearly a month ago whilst it regroups its interests. Any customers that did not receive their bike in time were refunded by us and any models in transit allocated to the customer and delivered.
Those that have not received a bike or a refund should email me directly through this platform and I will send you proof which you can then forward on to the bank.
The only reason the website was still live was because our developers were celebrating Diwali and could not get online.
I am not a legally interested party (basically I didn't order a bike) but others who have been caught up in this would have a legitimate to claim to getting these questions answered.
A funny statment to make, I know nothing about this subject and have no vested interest but I do feel for no reason compelled to stick my two penneth in anyway and have no feelings or emotions for the individuals involved who have only ever had the best of intentions for the electric bike market. Attempting to get as many people on ebikes as possible and hopefully motivated a few people over the years to either try a bike, buy a bike or even start an ebike business.
Please if you have ever owned a BH bike in the UK. If it was sold through 50cycles or any dealer in the UK then register your bike on the form below. If you think you are out of warranty please submit your details anyway as their will be a service partner in the UK to manage your warranty. Updates will be given to those that complete the form over the coming weeks.
Please register your BH Warranty and aftersales support here
If anyone has any problems or concerns please feel free to email back on this platform and I will see what can be done to help.