Sportive organiser cites cycling industry’s “downfall” and sudden disappearance of loan offers as reasons for entering administration
> Scramble for refunds as cycling sportive organiser goes into administration after suffering heavy losses through the pandemic However, he was faced with logistical problems, and then in late 2023, perhaps the final nail in Sportive HQ’s coffin came in the shape of losing loan offers. “The thing with it was you couldn’t ask for it or apply for it, you had to wait for it to be offered. I questioned it a few times and only came back with a response that they were restructuring and offers would come again in the future, keep checking your inbox. It never came.
Porter has offered an explanation for that, saying that he was hoping the added income from more riders would provide enough cash flow for the company to stay afloat. > "It's at the limit now": Tour of Britain organiser highlights"enormous" costs involved, responds to critics who called route"dull"