Sports Direct to close Evans Cycles stores in rescue deal

[soundwave]

https://www.bbc.co.uk/news/business-46037259

 

[grldtnr]

A little upset by the news that F W Evans is in financial trouble, I bought my first 'proper' bike from them ,when they traded from ,Waterloo , The Cut.
That bike took me on my first ever long distance tour from Lands End- John o' Groats, and I have many fond memories of touring on that bike.

 

[Wander]

The threat to close half of the stores is likely just a negotiating tactic to reduce the rents with the landlords.

 

[flecc]

The threat to close half of the stores is likely just a negotiating tactic to reduce the rents with the landlords.

I think they will close them though, all the signs are that Evans expanded too quickly in all respects. It wasn't only the increase to 50 stores but also opening a 50,000 sq.ft. distribution centre at Gatwick, then expanding that to 125,000 sq.ft.

Perhaps ok during the expansion from 2 million to 3 million UK bike sales per annum, but not so clever when that started to drop back to 2.5 millions. The shift to e-bike sales sold from growing numbers of specialist e-bike outlets, in stores and online, didn't help.
.