Cycling in Sydney Australia
Very very sad to report the closure of City Bike Depot on Kent Street in the city. After 10 years of hard work and much dedication to the industry Hugh Flower has had to close the store. He is a true gentleman and the industry has lost a very strong advocate. It was through his encouragement, and the help of the crew at CBD I moved on from being a simple commuter who saw a bike as a mode of transport, to the passionate, competitive bicycle loving person I am now. I will sadly miss Hugh, Allison and all the team. The loss of a store that stocks such a wide range of brands will be missed.
Sad news - always loved going into CBD, they had a nice layout, interested staff, and free air! The mechanics were always helpful and interested in helping regardless of the problem.
I never had much to do with the store - I'd popped my head in the door a couple of times when I'd been walking past. But one thing I did think was particularly honourable is that they chose to bring in the receivers before it was too late - all suppliers were given the opportunity to reclaim owned stock, all deposits refunded etc.
Final clearance sale starts tomorrow (Tues 2nd) @ 10am.
Any clue as to why?
Well the sign on the front door sort of implies they were losing money and not willing to tip any more in. Although I might be reading between the lines.
The rent would be nasty.
Damn shame, very good shop, staff and had stock which was useful.
Big clap to Hugh and the years he has put into biking in and out of the shop.
Credit is a necessary evil (or risk - choose your preference) for business If his doors are open at 10am tomorrow, what's to stop you walking in and reclaiming what's yours?
The note he wrote indicated "suppliers had been through and claimed stock owed" - not the case for all suppliers and all stock then?
Not that I'm advocating it, but when a similar thing happened to old acquaintance's business, he was advised to take a trailer and sledgehammer to the shop early in the morning and leave a note saying where to send the invoice for the broken window, as this was the best, fastest and easiest way to get most of what they were owed. Or more correctly, what they owned.
Is it a bit like betting - don't offer more credit than you can afford to lose? Still, if you've been trading with him for ~10 years (I'm assuming) with no indication then I feel your pain. And your opportunity is 10am tomorrow morning. Your invoice small print says something to the effect of "stock remains property of Poncho until paid for in full" I'm assuming?
I recall a similar situation where a bike shop in Melbourne folded a year or two ago, and one wholesaler (from memory a single bike brand wholesaler - but probably had some other bits & pieces in their catalogue as well) was owed either $300k or $600k. And that was just one creditor (the biggest one).
I can't imagine why they extended such credit, thinking they could help them trade their way out, as I'm sure they would have had some early signals the clouds were gathering. How many bikes had they given them without payment to get to a credit balance of $300-$600k?
I was a bit sad when I heard this news (via text message) today. After Cranks closed in North Sydney I was more than happy to take my bike across the bridge for servicing and parts etc as CBD were always friendly and helpful.
I suppose I'm going to have to start going to Clarance Street Cyclery and hope they don't disappear next.
Being a quiet country mouse, one doesn't get to see bike porn in the big smoke too often, but I've been impressed with the helpfulness of the crew at Giant Store (?) in Clarence St near the City Hall.
I debated whether to go, but then I remembered I haven't got any money anyway. haha
Did you go in? Any good deals?
It is a shame they are closing down. I used to go check out all the bike shops in that area after school and they were one of the only shops to consistently greet me as I walked in.
found this photo from facebook