What's happening at 50 Cycles?

50Hertz

Esteemed Pedelecer
Jan 2, 2019
2,199
2,403
Hello all, I'm definitly not a plant, I've just looked in the mirror and can't see any green leaves!!
This forum appears to have some good discussion points but this thread is now not one of them.
I think that some of you need to maybe get out a little more on your electric bikes rather than spend your time hunched over a PC.
For the record my BH bike arrived last Friday, personally delivered by Scott himself, as far as I'm concerned that's my contract with them fulfilled and I shall from now on not be wasting my time on here again.
The BH bike, as I thought it would be, is great, well speced and good value for money. I bought it because of their great reputation
Again for the record all my dealings have been cordial and Scott has kept in touch with me regarding the ongoing situation.
I am just trying to give a balanced view from my own dealings with 50 Cycles.
I have no intention of proving that I am genuine as I refuse to get involved with petty arguments which remind me of conversations involving school kids.
The administrators should take a look at this thread and start to better police the comments some people are making.
So finally, write what you like it will just be words blowing in the wind as far as I'm concerned............
Fair enough Scott, whatever butters your parsnips mate.

You might want to try wearing false eyebrows, a false moustache and a bowler hat when the new showroom opens. You never know who might drop in. Sounds like there are a few angry folks out there with baggy pockets where the money used to be!
 
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Tallbiker

Pedelecer
Nov 16, 2013
28
30
Farnham, Surrey
They currently have a 2014 Kolkhoff BS10 with a Bosch 500w motor for sale via eBay. Am I correct in understanding this bike is not UK road legal ?
I am new to eBikes so for give my ignorance. I live local to their showroom and have been invited to view this bike. Cheers
Bikegear23 seems to have several Kalkhoff bikes for sale on ebay currently. All the pics of the bikes are taken outside the 50cycles warehouse it would appear.
However, these bikes were traded in via the old company, and as such, they should have been declared on the 'assets' section of their accounts as part of the winding up of the company.
[removed by admin: privileged information at the time of editing]
 
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Tallbiker

Pedelecer
Nov 16, 2013
28
30
Farnham, Surrey
Hello all, I'm definitly not a plant, I've just looked in the mirror and can't see any green leaves!!
This forum appears to have some good discussion points but this thread is now not one of them.
I think that some of you need to maybe get out a little more on your electric bikes rather than spend your time hunched over a PC.
For the record my BH bike arrived last Friday, personally delivered by Scott himself, as far as I'm concerned that's my contract with them fulfilled and I shall from now on not be wasting my time on here again.
The BH bike, as I thought it would be, is great, well speced and good value for money. I bought it because of their great reputation
Again for the record all my dealings have been cordial and Scott has kept in touch with me regarding the ongoing situation.
I am just trying to give a balanced view from my own dealings with 50 Cycles.
I have no intention of proving that I am genuine as I refuse to get involved with petty arguments which remind me of conversations involving school kids.
The administrators should take a look at this thread and start to better police the comments some people are making.
So finally, write what you like it will just be words blowing in the wind as far as I'm concerned............
Whilst I appreciate that you have received your bike (which is great), there are 42 of us who haven't and won't be receiving ours, as we bought our bikes from 50cycles ltd, which is now the subject of an insolvency order, with a liquidator to be appointed.

A new company was set up on 6 September: 50cycles Distribution Ltd, from which I am assuming they will be using as the future trading outlet.
 
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Tallbiker

Pedelecer
Nov 16, 2013
28
30
Farnham, Surrey
Fair enough Scott, whatever butters your parsnips mate.

You might want to try wearing false eyebrows, a false moustache and a bowler hat when the new showroom opens. You never know who might drop in. Sounds like there are a few angry folks out there with baggy pockets where the money used to be!
It remains too easy for UK company directors to ditch one company with massive debts and start another one, which is exactly what's happened here. However when these company directors appear in court (which is mandatory in proceedings such as this), there will be questions asked as to their trading patterns post company wind-up/insolvency.
All activity is already being logged.
 
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flecc

Member
Oct 25, 2006
53,260
30,648
There are many riding S Class bikes illegally as pedelecs and the likelyhood of getting caught is very low at the moment.

If you were caught the penalty would most likely only be a fine, but bear in mind the magistrates can order that an illegal two wheeler used on the road can be confiscated and crushed, it's happened to many. That would make the cost to you immense.

And if you were ever in collision with a pedestrian and they were injured or worse, even if it was their fault you could be facing a battery of motor vehicle charges and spend up to two years in prison. That too has happened before.

So those are the risks you need to weigh up, extremely unlikely to ever happen but the costs potentially very high.
.
 
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50Hertz

Esteemed Pedelecer
Jan 2, 2019
2,199
2,403
According to the insolvency practitioners handling the winding up/insolvency procedure for 50cycles Ltd, the company also owed Cube (bikes) £69,135.59.
Another creditor owed money by 50cycles Ltd is Giant UK Ltd: £59,080.98.
Oneway bike Ind. BV is owed £74,557.65. Raleigh UK is owed £42,560.03.
This is in addition to the previously quoted £680,088.37 owed to Derby Cycle.
Regardless of whether they set up again, with a history like the one you describe, I doubt any manufacturer / distributor would touch them with a barge pole. Even if they use another name for cover, word seems to spread as to who is behind the company. If any brand sells to a retailer with a track record of dissolving a business with massive debt, and then popping up again a short while later, you have to say, more fool them, they knew the risk.
 
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D

Deleted member 25121

Guest
According to the insolvency practitioners handling the winding up/insolvency procedure for 50cycles Ltd, the company also owed Cube (bikes) £69,135.59.
Another creditor owed money by 50cycles Ltd is Giant UK Ltd: £59,080.98.
Oneway bike Ind. BV is owed £74,557.65. Raleigh UK is owed £42,560.03.
This is in addition to the previously quoted £680,088.37 owed to Derby Cycle.
The good news is that there can't be many large ebike suppliers left for them to deal with.
 

50Hertz

Esteemed Pedelecer
Jan 2, 2019
2,199
2,403
Whilst I appreciate that you have received your bike (which is great), there are 42 of us who haven't and won't be receiving ours, as we bought our bikes from 50cycles ltd, which is now the subject of an insolvency order, with a liquidator to be appointed.
The total that is owed to us is £137,944.49.
A new company was set up on 6 September: 50cycles Distribution Ltd, from which I am assuming they will be using as the future trading outlet.
Also note that the Company Creditors debt totals £1,780,456.23. These are figures supplied by the Insolvency Practitioners.
Somehow, I don’t think you will be getting a reply to this. There used to be a company on here that did this sort of thing all the time. A new user would pop up and sing the praises of this particular company and then disappear when rumbled. I forget the name of the company involved, but it may come back to me later.
Regards

50 Hertz
 
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flecc

Member
Oct 25, 2006
53,260
30,648
The good news is that there can't be many large ebike suppliers left for them to deal with.
Even more true since such a large number of European brands are owned by two very large Dutch groups, Accell and Pon Holdings.

Pon Holdings bike division, called Pon Bike, is the parent of Cervélo, Santa Cruz, Juliana, Focus, Univega, Gazelle, Faraday, Kalkhoff and Union.

Accell Group's brands include Haibike, Winora, Batavus, Sparta, Koga, Lapierre, Ghost, Raleigh, Diamondback, Tunturi, Atala, Redline, Loekie and XLC.
.
 

Muddyfox

Pedelecer
Dec 30, 2018
97
60
Nottingham
There are many riding S Class bikes illegally as pedelecs and the likelyhood of getting caught is very low at the moment.

If you were caught the penalty would most likely only be a fine, but bear in mind the magistrates can order that an illegal two wheeler used on the road can be confiscated and crushed, it's happened to many. That would make the cost to you immense.

And if you were ever in collision with a pedestrian and they were injured or worse, even if it was their fault you could be facing a battery of motor vehicle charges and spend up to two years in prison. That too has happened before.

So those are the risks you need to weigh up, extremely unlikely to ever happen but the costs potentially very high.
.
Once again thank you for everyone's advice. I now have a much clearer path to follow on my route to eBike ownership. S Class bikes not being an option now. Cheers.
 
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Kizza

Pedelecer
Oct 28, 2017
101
34
London
Hello all, I'm definitly not a plant, I've just looked in the mirror and can't see any green leaves!!
This forum appears to have some good discussion points but this thread is now not one of them.
I think that some of you need to maybe get out a little more on your electric bikes rather than spend your time hunched over a PC.
For the record my BH bike arrived last Friday, personally delivered by Scott himself, as far as I'm concerned that's my contract with them fulfilled and I shall from now on not be wasting my time on here again.
The BH bike, as I thought it would be, is great, well speced and good value for money. I bought it because of their great reputation
Again for the record all my dealings have been cordial and Scott has kept in touch with me regarding the ongoing situation.
I am just trying to give a balanced view from my own dealings with 50 Cycles.
I have no intention of proving that I am genuine as I refuse to get involved with petty arguments which remind me of conversations involving school kids.
The administrators should take a look at this thread and start to better police the comments some people are making.
So finally, write what you like it will just be words blowing in the wind as far as I'm concerned............
My great great great Grandmother survived the Titanic. She said there was no problem with the number of lifeboats as far as she was concerned.

The service on the boat was amazing, and she was surprised about all the fuss afterwards. She had a great time and highly recommends the White Star Line.
 
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vfr400

Esteemed Pedelecer
Jun 12, 2011
9,822
3,993
Basildon
I don't get what all that cryptocurrency is about. Is it that the liquidators have control of his accounts, so he can't deal with credit cards, etc? Do regular customers have to pay in cryptocurrency? Are you protected? Can somebody explain?
 

Woosh

Trade Member
May 19, 2012
20,447
16,915
Southend on Sea
wooshbikes.co.uk
it's just a diversion.
If they have the money to start BH distribution then they should have the money to sort the old company out.
 
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flecc

Member
Oct 25, 2006
53,260
30,648
it's just a diversion.
If they have the money to start BH distribution then they should have the money to sort the old company out.
I think it could be more than a diversion. Scott and Co. have been playing with the company valuation for nearly a decade, long ago advertising it for sale, possibly to ascertain a value to borrow against. They've built up a long chain of debts to many previous suppliers, now escaping them all via insolvency.

I wouldn't put it beyond them to realise that crytocurrencies could be a new debt avoidance path in future.
.
 
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Charliefox

Esteemed Pedelecer
Feb 11, 2015
325
89
80
Culloden Moor Inverness
Whilst I appreciate that you have received your bike (which is great), there are 42 of us who haven't and won't be receiving ours, as we bought our bikes from 50cycles ltd, which is now the subject of an insolvency order, with a liquidator to be appointed.

A new company was set up on 6 September: 50cycles Distribution Ltd, from which I am assuming they will be using as the future trading outlet.
You quoted (somewhere!) that you and 41 others were owed £137,944.49 for bikes ordered but not received. You do realize that is an average of £3284 per bike? That would about right if most were full suspension MTB E bikes but surely not.Just Wondering.
 

Tallbiker

Pedelecer
Nov 16, 2013
28
30
Farnham, Surrey
One of the 'consumer creditors' is owed £43,501.00: it's a property company in the West End. This would therefore take the average down a bit for the amount due to the rest of the consumer creditors. Looking at the rest of the list, there's also an Autoleasing company that is owed £6688.00. The rest of this list (as opposed to the business creditors list) comprises of individuals who are owed £1-£5k each.
 
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Tallbiker

Pedelecer
Nov 16, 2013
28
30
Farnham, Surrey
The electric scooter as shown by Muddyfox from last night's Tipping Point programme would have been acquired many months' ago by the programme's prize promoter team, therefore not a recent transaction. Ironic though, in the present set of circumstances ....
 
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