Mike Ashley to slash bike chain
Hundreds of jobs are under threat at cycling chain Evans after new owner Sports Direct said as many as half the stores could close.
It emerged last month that Evans, founded in 1921, was battling to find a buyer.
The business went into administration yesterday, but was immediately bought by Sports Direct under a so-called pre-pack deal. It has 62 stores and currently employs 1,300 staff.
Sports Direct tycoon Mike Ashley warned: “In order to save the business we only believe we will be able to keep 50% of stores open in the future.”
However, which ones could close depends on imminent talks with store landlords.