Sports Direct rescues Evans Cycles but will close stores
Company logos are seen outside a Sports Direct store in Vienna, Austria, April 28, 2016. REUTERS/Leonhard Foeger
euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.
LONDON (Reuters) – Britain’s Sports Direct <SPD.L> said on Tuesday it has purchased specialist cycling retailer Evans Cycles immediately after it fell into administration.
Sports Direct, controlled by retail tycoon Mike Ashley, said it would keep half of Evans Cycles’ 62 stores open.
The business employs around 1,300 staff.
(Reporting by James Davey, Editing by Paul Sandle)