Originally Posted by
PeteHski
It's the cancelling of 400 existing orders that I don't really understand. I got the impression that's what surprised Mike's Bikes too.
What’s the option? Mike’s ordered the 400 units; it’s not 400 people who ordered from Specialized. Specialized probably don’t know who ordered what or have contact info for them, but most importantly, we know they don’t have their money because Mike’s said they have it in the letter. So what’s Spesh supposed to do? Sell the bikes through an unofficial dealer channel? Of course not. They had no choice but to cancel the orders, and evidenced by the way Mike’s is throwing Spesh under the bus, they made the right call; it would have been even messier any other way.