Evans Cycles to close more stores following Sports Direct takeover

Cycling clothing, accessories and equipment brand Evans Cycles is set to
close three more stores this month, bringing the total number of closures
to eight since the chain was bought by Sports Direct.

That number is relatively low considering that shortly after Sports
Direct bought the chain out of administration for 8 million pounds (10.2
million US dollars) in October, owner Mike Ashley said he expected around
half of Evan Cycles’ 62 stores to be shuttered as part of its turnaround

The three London stores set to close this month are in Victoria, Crouch
End and Mark Lane in The City. Stores in Brentford, Fulham, Holborn, Kendal
and Spitalfields have already closed since the acquisition.

“Following the purchase of Evans Cycles by Sports Direct, we have been
undertaking a detailed review of the store portfolio to ensure each store
is profitable and sustainable long-term for the business,” Steve
Trowbridge, chief executive of Evans Cycles, told the Press Association.

“The stores review process is now nearing a conclusion but unfortunately
we have been unable to reach a satisfactory agreement with the landlords of
our stores in Crouch End, Mark Lane and Victoria.”


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