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Bradley Wiggins liquidates third company with £141,000 debts

British former cyclist Sir Bradley Wiggins comments the race on a moto during stage 17 of the 106th edition of the Tour de France cycling race from Pont du Gard to Gap 200 km France Wednesday 24 July 2019 This years Tour de France starts in Brussels and takes place from July 6th to July 28th BELGA PHOTO YORICK JANSENS Photo credit should read YORICK JANSENSAFP via Getty Images
Bradley Wiggins (Image credit: Getty Images Sport)

Bradley Wiggins has placed a third company into liquidation with debt of £141,000 following the liquidation of two other companies back in late October.

The 2012 Tour de France winner has wound up a company named 101 Ride Limited, of which the sole director is his estranged wife Catherine Wiggins. It's not clear what purpose the company served within Wiggins' stable of businesses.

A report by CyclingWeekly found that the company owed £51,000 to solicitors Bray and Crais and £90,000 to marketing firm SponsorCom Limited, according to a statement of affairs filed at Companies House.

In October, Wiggins liquidated Wiggins Rights Ltd, set up to "exploit Wiggins' name and image rights", with debts of £650,000, and New Team Cycling Ltd, which owned and managed Team Wiggins, with debts of £578,008.

Those owed by the two companies include bike company Pinarello and sports management company Trinity, which manages Tom Pidcock, among others.

The two companies were both wound up after the closure of Team Wiggins at the end of 2019 after five years in the peloton. Wiggins himself rode for the team for the final two seasons of his career in the run-up to the 2016 Olympics, where he won gold in the team pursuit, the fifth of his career.

Team Wiggins brought through a number of British talents, including Owain Doull, James Knox, Chris Lawless and Tom Pidcock, taking part in races such as the Tour of Britain and Tour of California along the way.

A spokesperson for Wiggins declined to comment on the liquidation of 101 Ride Limited to CyclingWeekly. Back in October, a spokesperson said that "Bradley's involvement in the companies was not day to day" and that "this in no way affects Bradley's personal solvency."

In July, the British High Court dismissed a bankruptcy petition request brought against Wiggins by HMRC. In a five-minute hearing, judge Daniel Schaffer explained that Wiggins’ lawyers had met representatives from HMRC to come up with a solution.