Planet Cyclery and Colorado Cyclist Sitewide Closing Sale Features Discounts of Up to 30% Across all Apparel, Bike Parts and Accessories

Rhea-AI Summary

Planet Cyclery and Colorado Cyclist are hosting sitewide closing sales with discounts of up to 30% on premium cycling apparel, gear, and equipment. B. Riley Retail Solutions is facilitating the liquidation process, offering deep discounts on high-quality merchandise across both websites for a time only.

Positive

• Discounts of up to 30% on premium cycling apparel, gear, and equipment
• Both Planet Cyclery and Colorado Cyclist offer high-quality products for cyclists
• -time availability of sales with inventory selling out quickly

Negative

• Total liquidation of inventory due to General Assignment for the Benefit of Creditors (ABC) of Velo
• Unprecedented discounts could indicate financial struggles for the companies

B. Riley Retail Solutions is Facilitating Colorado Cyclist and Planet Cyclery Website Closing Sales

LOS ANGELES, April 29, 2024 /PRNewswire/ -- Premium providers of high-quality bikes, components, and apparel for cyclists, Planet Cyclery and Colorado Cyclist, have commenced website closing sales across all premium cycling apparel and gear with starting discounts of up to 30% across all merchandise.

Both sitewide closing sales feature deep discounts across biking gear and equipment, from bikes, wheels, tires and components to apparel, including best-selling helmets, tires, and water bottles.

"Colorado Cyclist has offered high quality bicycle parts and accessories for serious cyclists across North America for over 45 years, and Planet Cyclery offers premium brands that are relevant to casual riders and enthusiasts alike," said Tim Shilling, president of B. Riley Retail, Wholesale and Industrial Solutions. "Both retailers are known for sourcing premium equipment for dedicated cyclists and are home to some of the best cycling brands. Enthusiasts should shop these online sales early before inventory sells out."

The Planet Cyclery and Colorado Cyclist sales are available for a limited time only. All inventory will be sold within a matter of weeks.

B. Riley Retail, Wholesale and Industrial Solutions, Inc. is facilitating the total liquidation of Planet Cyclery and Colorado Cyclist's inventory, in connection with the executed General Assignment for the Benefit of Creditors (the "ABC") of Velo.

Jonathan Wernick of B. Riley Advisory Services, assignee in the ABC of Velo, said: "Additional assets from both sites, including intellectual property, fixtures, and equipment, will be available for a limited time during the wind down in this process. Both Planet Cyclery and Colorado Cyclist brands will have unprecedented discounts throughout the sale."

Visit https://www.coloradocyclist.com/ and https://planetcyclery.com/ to shop the sales.

About B. Riley Advisory Services
B. Riley Advisory Services is a leading provider of specialty business advisory services that works with law firms, lenders, private equity sponsors, and companies of all types on business challenges such as planning and executing a major acquisition or divestiture, pursuing a fraud investigation or corporate litigation, or managing through a business crisis or bankruptcy. The firm offers a unique mix of appraisal services including asset-based lending (ABL) valuations, restructuring and turnaround management, forensic accounting and litigation support, and transaction support services including due diligence and quality of earnings reviews. For more information, visit www.brileyadvisoryservices.com.

About B. Riley Retail Solutions
B. Riley Retail Solutions efficiently leverages its sector expertise and deploys resources to assist companies, lenders, capital providers, private equity investors and professional services firms in maximizing the value of their assets. The firm is a leading provider of asset disposition services specializing in large-scale retail liquidations. B. Riley Retail Solutions is a subsidiary of B. Riley Financial (Nasdaq: RILY), a diversified financial services platform that delivers tailored solutions to meet the strategic, operational, and capital needs of its clients and partners. For more information, visit www.brileyretailsolutions.com.

CONTACT: 
Jo Anne McCusker
646-885-5485
press@brileyfin.com

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SOURCE B. Riley Financial

FAQ

What is the discount range offered in the sitewide closing sales by Planet Cyclery and Colorado Cyclist?

Discounts of up to 30% are being offered across all merchandise in the sales.

Who is facilitating the liquidation process for Planet Cyclery and Colorado Cyclist?

B. Riley Retail Solutions is facilitating the liquidation process.

What is the reason for the total liquidation of inventory?

The liquidation is due to the General Assignment for the Benefit of Creditors (ABC) of Velo.

Where can customers shop the sales?

Customers can shop the sales at https://www.coloradocyclist.com/ and https://planetcyclery.com/.