Earlier this month Evans was in talks with Halfords after it announced it need a rapid cash injection to stay afloat. Those talks ultimately came to nothing which has apparently allowed Sports Direct to step in and snap up the high street chain.
Mike Ashley is reported to have stated that it is likely that to keep the chain afloat up to 50% of stores may need to close.
“We are pleased to have rescued the Evans Cycles brand. However, in order to save the business we only believe we will be able to keep 50 per cent of stores open in the future. Unfortunately some stores will have to close.”
More as we get it