Is it risky buying from Wiggle as it enters administration?

If you are someone who likes a bargain - don't we all - then you might very well have been browsing the Black Friday sale on Wiggle, where you can get up to 60% off kit, 40% off wheels and tyres, and 30% off bikes.

However, with the news coming on Friday morning that the firm had entered administration this week, you might very well be scratching your head and wondering if there is any risk of ordering something.

A statement from the administrators on Friday made clear that the business would continue to trade as its put up for sale and that all returns periods and customer service remains operational.

Based on the currently available information then, there is minimal risk in continuing to take advantage of the discounted items, which range from over £1,000 off a Vitus ZX-1 EVO RIVAL AXS Road Bike to a third off many items of dhb kit. Helmets, like a Kask Rapido, are similarly reduced, with this model 50 per cent off, while parts, like a Shimano 105 5800 11 Speed Road Cassette, has over 50 per cent off. 

While the exact future of the firm is unclear there is good reason to believe that the business that has come to dominate the online cycling market has something to offer potential investors and operations may well continue into the long term

However, if you're after additional assurance buying goods with a credit card always offers some piece of mind.

This is because under the Consumer Credit Act - section 75 to be specific - anything bought over £100 and under £30,000 is covered by purchase protection. Therefore, if down the road Wiggle were to fail to find a buyer and collapse, then the credit card company has equal liability with the seller to refund your item.

This should be a reasonably easy process through your credit card company, through customer services or a form on its website. For now, Wiggle and its administrators seem confident that trading will continue as usual.

Do note, however, that the item has to be over £100, not the overall total you've spent at the retailer; so a basket full of cheap clothing might not be refunded in the same way a bike might be.

If you've been affected by Wiggle entering administration in any way we'd like to hear your story, email: cycling@futurenet.com