'Almost all' of Evans Cycles stores profitable despite plans to close half under Sports Direct management

New owner Mike Ashley has suggested closing down almost half of the stores despite profitability

Evans Cycles (Alamy Stock Photo)

(Image credit: Alamy Stock Photo)

Evans Cycles' administrators advised that "almost all" of its stores were profitable before the company went into administration, but new owner Mike Ashley plans to close around half of the shops.

The man behind Sports Direct warned that stores would have to close to save the 1921 founded business, which had sought a £10 million cash injection to stay afloat.

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Michelle Arthurs-Brennan

Michelle Arthurs-Brennan the Editor of Cycling Weekly website. An NCTJ qualified traditional journalist by trade, Michelle began her career working for local newspapers. She's worked within the cycling industry since 2012, and joined the Cycling Weekly team in 2017, having previously been Editor at Total Women's Cycling. Prior to welcoming her daughter in 2022, Michelle raced on the road, track, and in time trials, and still rides as much as she can - albeit a fair proportion indoors, for now.