EVANS CYCLES TO BE SOLD BY PRIVATE EQUITY OWNERS

Evans Cycles is to be sold by its private equity owner ECI Partners.

The cycle chain has been making a loss over the past two years, although ECI has perused a strategy of expansion.

At the time of writing bids have been invited for the firm, with Halfords being reported by Sky News as being among the front runners.

Halfords itself set up the Cycle Republic chain as a rival to Evans Cycles in 2014. Halfords has previously stated an aim for Cycle Republic is to double the number of branches.

In general terms, cycle retail on the High Street has been under pressure as there has been a willingness by consumers to buy mid to high-end bikes from non-traditional outlets, such as Go Outdoors or from sports shops such as Triathlon. Low-end family bikes have been under pressure from online retailers such as Wiggle, which one retail survey put as the UK’s second largest cycle retailer in August

Published by GregWhitaker

Editor of CAT Magazine and an experienced motoring journalist

ECP BOSS WARNS OF BLOCK EXEMPTION ‘EXISTENTIAL THREAT’

Andy Hamilton rails against VM ‘mini monopolies’ and demands that the UK government and the CMA take action in face of ‘abuse’ of the rules

Read More

PRA BOSS CALLS FOR FORECOURT ‘PINGDEMIC’ EXCLUSION

‘Forecourt workers are essential and should be exempt from self-isolation requirements if fully vaccinated’, say PRA

Read More

YORKSHIRE EXHAUST SPECIALISTS SAY ‘YES’ TO AAG BUYOUT

Leeds-based firm had been a UAN member and employed over 60 people

Read More

NEW TRADE COALITION FORMED TO FIGHT BLOCK EXEMPTION THREAT

AFCAR comprises of bosses from four major UK trade bodies

Read More

HALFORDS TO HIRE 700 TECHNICIANS

Chain hiring following a busy year for vehicle mobile servicing and pedal cycles

Read More

Join the debate

1 Comment

Your email address will not be published. Required fields are marked *

  1. High-end bikes from Go Outdoors??? The most expensive bike listed on their website is £529 for an alloy bike with Shimano Tiagra gearset from a no-name brand.