What's happening at 50 Cycles?

[flecc]

Don’t you become disqualified from being a company director in circumstances such as this?

I suppose they can set up with ”clean” family member as a director, on paper.

Unfortunately not, they can go broke in one company and immediately set up another. Having said that I seem to remember Scott's wife being a director of 50cycles at one point, inactive as far as I could see.

In fairness a company going broke isn't necessarily the fault of the directors. A government measure like a sudden increase in a products tax or making something illegal can do it. As can a sudden influx of their product from a cheaper country. Even a change in fashion or an adverse weather trend can kill a company.

And in 50cycles case, the basis of their failure was representing two good brands in a row as agent, both of them in turn turning bad for one reason or another. In both cases 50cycles had no control, they were very much victims of both and couldn't cope with what had happened.
.

 

[vfr400]

And in 50cycles case, the basis of their failure was representing two good brands in a row as agent, both of them in turn turning bad for one reason or another. In both cases 50cycles had no control, they were very much victims of both and couldn't cope with what had happened.
.

That's just speculation. It might have been divine intervention, or maybe one of their badly-treated customers put a curse on them.

 

[flecc]

That's just speculation. It might have been divine intervention, or maybe one of their badly-treated customers put a curse on them.

Not speculation, it's fact from personal involvement knowledge.

You sound like you've fallen victim to faith and mysticism.
.

 

[vfr400]

You sound like you've fallen victim to faith and mysticism.

It was after I heard about Jeffry Epstein killing himself. One day he tells his lawyers that he's in good spirits and wants them to work on a strategy to get him out of the high security jail he's in. Hours later, he does a backward flip off his 3ft high bed and strangles himself with the toilet paper anti-suicide bed sheets. At the same time, the CCTV cameras malfunctioned and the two guards both fell asleep and they couldn't wake up from the screaming from his cell that all the other prisoners heard.

The only explanation is that he had a divine visitor that told him to repent his sins and end his life there and then because of all his sins, or he could choose eternal pain and damnation. He chose the former, so the angel did the deed and fixed CCTV and the guards. He also fixed it that none of the press or anyone else could report on it.

 

[Tallbiker]

Generally, the rules are:


Possibly a grey area with the first point, but I suspect that people normally get away with this, such are the company laws in this country.

 

[Tallbiker]

I repeat ... where did all the stock go at the time of the winding up order? Several visitors to the warehouse during this period have reported seeing 'a lot of bikes', and their value should have been included under 'assets' section of the accounts. They were not.

 

[lordvincent]

I've always been treated very well by 50c and I'm sorry to see them go under, although I recognise that others may not have had as positive an experience.

I hope that they will still be able to supply parts for the impulse 1 bikes like the front sprocket, and also I have found it very useful to periodically reload the firmware for my impulse 1 agattu which seemed to solve certain small clicking issues when they arose - to do this 50c very helpfully sent out a device with a specific memory card installed, and I wonder if this will still be available from the new company..

 

[BazP]

I repeat ... where did all the stock go at the time of the winding up order? Several visitors to the warehouse during this period have reported seeing 'a lot of bikes', and their value should have been included under 'assets' section of the accounts. They were not.

Because they were in trouble, these bikes could have been supplied on sale or return. Or not.

 

[RossG]

It was after I heard about Jeffry Epstein killing himself. One day he tells his lawyers that he's in good spirits and wants them to work on a strategy to get him out of the high security jail he's in. Hours later, he does a backward flip off his 3ft high bed and strangles himself with the toilet paper anti-suicide bed sheets. At the same time, the CCTV cameras malfunctioned and the two guards both fell asleep and they couldn't wake up from the screaming from his cell that all the other prisoners heard.

The only explanation is that he had a divine visitor that told him to repent his sins and end his life there and then because of all his sins, or he could choose eternal pain and damnation. He chose the former, so the angel did the deed and fixed CCTV and the guards. He also fixed it that none of the press or anyone else could report on it.

The plan worked perfectly, they got him out and didn't even have to walk to the door. Trouble is he's left a certain Duke or somebody to pick up all the flack....how selfish is that.

 

[Superwillem]

https://twitter.com/i/web/status/1197851236118257664

 

[vfr400]

It's amazing how many new members of this forum join, then post only positive things straight into the 50 Cycles threads, then disappear for ever after.

 

[Tallbiker]

It's amazing how many new members of this forum join, then post only positive things straight into the 50 Cycles threads, then disappear for ever after.

Isn't it just! What a wonderful thing it is too, being able to discard such a massive debt with a limited company and start all over again ... I really must try it some time

 

[Tallbiker]

By the way, folks, check out a new ebay seller called 'cutielaura77' ... an Orbea electric bike for sale, pictured in front of a 50cycles sign on the floor of a warehouse ...
You couldn't make it up, could you ...

 

[Wicky]

How many tulip bulbs for one of those bikes?

Bitcoin uses more energy than the whole of Switzerland – and it’s getting worse

Environmental impact of the cryptocurrency is getting worse, research suggests

www.independent.co.uk

 

[Wicky]

By the way, folks, check out a new ebay seller called 'cutielaura77' ... an Orbea electric bike for sale, pictured in front of a 50cycles sign on the floor of a warehouse ...
You couldn't make it up, could you ...

and slightly used Kalkhoff's and bike accessories ...

Items for sale by cutielaura77 | eBay

Shop eBay for great deals from cutielaura77!

www.ebay.co.uk

 

[Tallbiker]

'curiouser and curiouser', said Alice ...
... and yet .. no declaration of any assets in the final financial statement of 50cyles ltd ...
well I never

 

[oriteroom]

I've always been treated very well by 50c ....
I hope that they will still be able to supply parts for the impulse 1 bikes like the front sprocket, and also I have found it very useful to periodically reload the firmware for my impulse ........

I think you will be lucky if they will provide what you hope for. Even before going into bust they had severely run down spares like sprockets etc. If you get into trouble sourcing spares try pro-golla cycling in Germany. Good stock of spares for Panasonic and impulse motor Kalkhoff bikes. Had great sevice from them myself for past few years.

Mike

 

[Phil Dryden]

and slightly used Kalkhoff's and bike accessories ...

Items for sale by cutielaura77 | eBay

Shop eBay for great deals from cutielaura77!

www.ebay.co.uk

Interesting that the few items I followed through from cutielaura77 and another seller flem2 are located either in Loughborough, or Long Whatton, a small village a few miles from Loughborough. Now, whose head office was based in Loughborough?

 

[Wicky]

Most likely items grabbed and taken home from the premises by staff/owners before recievers did a stock inventory

Once had my motorcycle in for a routine service at a dealers that went unexpectedly bust -- luckily one of the staff rang me up and warned me to quickly come and remove my bike before it got locked up at the shop at the end of the day and taken away as being part of bankrupt stock.

 

[Superwillem]

It's amazing how many new members of this forum join, then post only positive things straight into the 50 Cycles threads, then disappear for ever after.

What makes you say I am going to say positive things about 50 cycles? I am just keeping the people informed here.
Old company --> https://beta.companieshouse.gov.uk/company/05140671/filing-history?page=1

New company --> https://beta.companieshouse.gov.uk/company/12193297/filing-history

A liquidator has been appointed, and I am very curious to see if Scott is talking inventory that should belong to his bankrupt company and selling it for crypto before the liquidator comes and claims it.