Essentially a bankruptcy (or "administration" in UK speak) fire sale:
https://www.pinkbike.com/news/wiggle...0-million.html
Deal includes the IP, so all the in-house brands are going with it - Nukeproof, Vitus, etc. I'm most bummed about Nukeproof as they make my favorite flat pedals, and the mountain bikes are pretty good too. Totally unclear what the future of the brands will be.
I believe the original purchase by Signa in 2021 was for $645 million, mostly debt-financed. Said debt is presumably what led to falling into administration.