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The end is near


Road Runner
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Saw it posted on FB earlier today.  Not sure about how real it is but it was on the internet.  The nice thing about PB in the past was they would take anything back for pretty much any reason.  I ordered stuff on-line I didn't like when it arrived and I returned it to a store weeks later.  Those things usually go out the window when bankruptcy protection comes in to play.

 

AN UPDATE ON PERFORMANCE BICYCLE – 12/07/2018

To our customers,

The parent company of Performance Bicycle has entered into Chapter 11 bankruptcy protection, and as a result there have been significant changes to our businesses. Currently, all Performance Bicycle stores are holding Store Closing Sales. Here is what it means for you, our valued customers:

• All Sales are Final. No exchanges, no returns* and no adjustment on prior purchases. (*Refunds may only be for merchandise having a latent defect and returned within 7 days of purchase with receipt).
• We are no longer accepting "Special Orders."
• We can no longer offer Ship-to-Store, Ship-from-Store, store transfers or Store Pickups of online or phone orders.
• We will no longer price-match competitors, or PerformanceBike.com(sale pricing, coupons and other layered discounts). Online purchases cannot match in-store prices.
• Our Layaway, Trade-In and Hide-a-Bike programs are discontinued. (Existing Hide-a-Bike purchases will remain available for pickup on or before Christmas Eve.)
• Online purchases can no longer be returned to any Performance Bicycle store. Contact our customer service department here to discuss returning your online purchase.
• We will no longer offer financing at any Performance store. Financing remains available for online purchases through PayPal Credit.
• We will no longer offer Lifetime Free Adjustments.
• All manufacturers' warranties remain in effect for purchases either in-store or online.
• We can no longer offer free, in-store assembly of bikes purchased at PerformanceBike.com or via phone order.
We no longer offer Performance Bicycle led group rides at our retail locations.

For Team Performance members:

• All current members' accounts, and their points, will expire at the end of their current membership.
• New memberships, membership renewals and auto-renewals are suspended in all stores and online.
• All current Team Performance Members can redeem points online at PerformanceBike.com and over the phone at 1-800-727-2453.
• All current Team Performance Members can earn points on purchases made online at PerformanceBike.com.
• There will no longer be automatic 2nd Business Day shipping on member orders. Upgraded shipping remains available for an extra charge and online orders receive free shipping on orders of $49 or more.

 

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55 minutes ago, No One said:

...from reading the website, it looks like the online portion of the business will continue. I wouldn't want to be one of the people working in my local Performance store right now.  :(

I feel for anyone about to lose a job but their people really were their weakest link... 

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2 hours ago, No One said:

...they usually close out all the current year bike models at 40-50% off right after Christmas anyway.

A couple of years ago I got a great Nashbar price on my current frame which I purchased as a whole bike just for the frame/fork.  50% off followed by a cash back when they lowered the price by another 20% and I called them and asked for the difference.  By the time I sold the wheels it was a great buy.

Of course by the time I purchased a set of Shimano wheels and Avid brakes the price was climbing back up again.  Still the whole bike cost less than some of the plastic frames.

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5 hours ago, Road Runner said:

I'm always suspicious of those "Save up to ---" ads.   ?

...I just got back from a shopping trip to Performance.  The vast majority of the stuff left in my local store across the river is now 20% off the retail price.  Which is about what their average sale discount used to be on their frequent sales.  So my advice would be unless it's close to you, don't bother.  Maybe they'll get more aggressive after the first of the year.

My store was in the "B" group, which was making money, and until a couple of days ago, the people who work there thought they still had jobs.  they were suitably discouraged tonight when I walked in the shop. Advice is to use any points you have online, ASAP or risk leaving them on the table when the online portion restructures, possibly under a different name.

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