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20 September 2018

Evans Cycles has put itself up for sale as it seeks fresh funding amid tough High Street trading conditions.

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The BBC understands PwC is in talks with a number of potential buyers for the bike store chain, which has more than 60 outlets in the UK.

The consultancy has asked for final bids by the end of next week, but Evans is not thought to be seeking a rescue deal.
PwC declined to comment and Evans did not respond to requests for comment.
Concerns over the retailer’s financial position first emerged in September, when Sky News reported the chain was seeking an emergency cash injection from its lenders.

Like other retailers, Evans has struggled with the recent slowdown on Britain’s High Streets that has led to the demise of brands such as Maplins and Toys R Us.

 

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