Cotswold Outdoor Explained

Outdoor and Cycle Concepts Limited
Trade Name:Cotswold Outdoor
Type:Private
Foundation:1974
Location City:Malmesbury
Location Country:United Kingdom
Location:Crudwell, Wiltshire, United Kingdom
Area Served:UK
Industry:Retailer
Products:Outdoor Clothing and Equipment
Num Employees:circa 1200
Parent:Retail Concepts N.V
(owned by PAI Partners)

Cotswold Outdoor is a trading brand of Outdoor and Cycle Concepts Limited, who also own the Snow and Rock, Cycle Surgery and Runners Need chains of shops. An outdoor recreation retailer in the United Kingdom and the Republic of Ireland.

History

Founded in 1974, the company originated in the Cotswolds, and was based in a garage next to the Cotswold Water Park from which the founders sold basic camping accessories. Cotswold Outdoor is the recommended retailer for the National Trust and the Ramblers. Cotswold Outdoor has 79 shops[1] across the United Kingdom, an e-commerce website and a mail order service selling outdoor clothing, camping & climbing equipment, travel clothing and hiking boots.

On 26 April 2019, Outdoor and Cycle Concepts Limited applied for a company voluntary arrangement (CVA) following increased pre-tax losses in a struggling UK retail environment.

Outdoor & Cycle Concepts chief executive Greg Nieuwenhuys resigned in March 2019. Jose Ramon Finch Castro joined the board on 1 April 2019 as managing director."[2]

Subsidiaries

Snow and Rock is a chain of skiing and mountaineering shops.[3] It was founded in the early 1980s by Mike Browne, who borrowed £60,000 from the bank using his house as collateral.[4] Browne opened its first shop on Kensington High Street in London.[4] By 2001, there were eight Snow and Rock shops that collectively had net sales of £22million per year.[4] In 2004, Andrew Brownsword acquired the firm, which then had 11 UK shops,[5] and Browne left the company.[5]

In 2010, Brownsword sold the firm to LGV Capital, Legal & General's private equity subsidiary.[6] At the time of the acquisition Snowit had 35 shops, employed 450, had £65million in revenue the previous year, and owned Cycle Surgery and Runners Need.[7] In 2015, the PAI Partners-owned AS Adventure Group, which owns Cotswold Outdoor, acquired Snow and Rock, Cycle Surgery and Runners Need, which at the time had 46 shops [8] In November 2015, Cotswold Outdoor, Snow and Rock, Cycle Surgery and Runners Need became "one single legal entity called Outdoor and Cycle Concepts".[9]

Notes and References

  1. News: Wilmore. James. Snow & Rock Group sold to Cotswold Outdoor owner AS Adventure Group. 28 March 2016. Retail Weekly. EMAP Publishing Limited. 1 June 2015.
  2. News: Creditors approve Cotswold Outdoor owner's CVA. 23 June 2020. 14 May 2019.
  3. News: Wheatley . Kevin . 2001-06-10 . Paralysed sailor takes on oceans by remote control . . . 2020-06-27 . https://web.archive.org/web/20200627235420/https://go.gale.com/ps/i.do?p=GPS&u=wikipedia&id=GALE%7CA75485556&v=2.1&it=r&sid=GPS&asid=22336658 . 2020-06-27 .
  4. News: Swinfield . John . 2001-08-03 . Sporting daredevil beats the odds; Breaking Through . . . 2020-06-28 . https://web.archive.org/web/20200628000318/https://go.gale.com/ps/i.do?p=GPS&u=wikipedia&id=GALE%7CA76962083&v=2.1&it=r&sid=GPS&asid=540d6d10 . 2020-06-28 .
  5. News: Urquhart . Lisa . 2004-07-09 . Entrepreneur buys Snow and Rock . . .
  6. News: Arnold . Martin . 2010-09-14 . Snow & Rock plots expansion after buy-out . . 2020-06-28 . https://archive.today/20200628001949/https://www.ft.com/content/1b1e12a2-c02a-11df-b77d-00144feab49a . 2020-06-28 . live .
  7. News: MacDonald . George . 2010-09-14 . Snow+Rock sold to management . . 2020-06-28 . https://web.archive.org/web/20200628003337/https://www.retail-week.com/snowrock-sold-to-management/5017096.article?authent=1 . 2020-06-28 .
  8. Wilmore . James . 2015-06-01 . Snow & Rock Group sold to Cotswold Outdoor owner AS Adventure Group . . 2020-06-28 . https://web.archive.org/web/20200628003044/https://www.retail-week.com/city-and-finance/mergers-and-acquisitions/snow-and-rock-group-sold-to-cotswold-outdoor-owner-as-adventure-group/5075472.article?authent=1 . 2020-06-28 .
  9. News: 2015-11-20 . Cotswold Outdoor and Snow & Rock Group announce new company name . The Retain Bulletin . 2020-06-28 . https://web.archive.org/web/20200628003819/https://www.theretailbulletin.com/general-merchandise/cotswold-outdoor-and-snow-rock-group-announce-new-company-name-20-11-2015/ . 2020-06-28 .