Around 30 of cycle shop chain’s 62 UK stores could close after sports retailer buys firm out of administration
Mike Ashley’s Sports Direct has bought Evans Cycles out of administration but has warned it may have to close half the specialist retailer’s 62 stores putting hundreds of jobs at risk.
Evans, which traces its roots back nearly 100 years, had been seeking a buyer after its management team said they needed £20m for a turnaround plan that its former private equity owners were unwilling to fund.
Retailers that have gone bust 2017-18
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