Halfords steps in to help struggling Evans Cycles, according to reports

The high street chain was looking for £10million investment

Evans Cycles (Alamy Stock Photo)
(Image credit: Alamy Stock Photo)

Retail giant Halfords has stepped in to try and save struggling Evans Cycles, according to reports.

Last week, Evans put out a call for a £10million investment to refit shops, fund store openings and allow e-commerce growth.

Sky News has reported that Halfords, the UK’s biggest bike retailer, is one of the company’s offering to help Evans.

Evans, which opened its first store in Kennington Road, south-east London in 1921, now has over 60 shops within its network as well as an online business.

Insiders said that a bidding process is taking place, to save the historically underfunded business, with numerous parties confirming they are interested in taking over.

The company, which has a head office in Gatwick, is responsible for a host of own-brand creations, such as FWE clothing and accessories as well as Pinnacle bikes.

Cycling Weekly has also reported that more than 10 rival Cycle Republic stores have opened near Evans stores in recent years.

Cycle Republic’s managing director Peter Kimberley left his role as Head of Retail at Evans Cycles in September 2013.

Reports state that Evans is looking for £10million in additional funding but is not considering a company voluntary arrangement (CVA) – which would allow it to shut stores and cut rents without going bust.

Alex Ballinger
Alex Ballinger

Alex is the digital news editor for CyclingWeekly.com. After gaining experience in local newsrooms, national newspapers and in digital journalism, Alex found his calling in cycling, first as a reporter and now as news editor responsible for Cycling Weekly's online news output.

Since pro cycling first captured his heart during the 2010 Tour de France (specifically the Contador-Schleck battle) and joining CW in 2018, Alex has covered three Tours de France, multiple editions of the Tour of Britain, and the World Championships, while both writing and video presenting for Cycling Weekly. He also specialises in fitness writing, often throwing himself into the deep end to help readers improve their own power numbers. 

Away from journalism, Alex is a national level time triallist, avid gamer, and can usually be found buried in an eclectic selection of books.