All being well he will eventually get his new bike but he had already handed in his old bike as part of the PX and paid the final balance 2 days before they filed for insolvency. So he now has no bike, no money and instead a load of grief to deal with. Not quite the 'new bike experience' we'd expect.
In this case it's looking good as the bike is down on the invoice as being fully paid but the question remains on how it will now get PDI'd (and thus software enabled), where this can happen, and when.
Just be careful if you are buying a new bike.