Mike Ashley’s Sports Direct has swooped in to buy struggling bicycle chain Evans amid struggling High Street conditions.
The bike chain, which had put itself up for sale last month, hasn’t had a smooth ride over the past months.
In April, the chain sacked its chief executive Andy King amid reports he had failed to turn the business around.
King was replaced by Alan Fort, the beleaguered firm’s third new boss in two years.
According to Companies House, earnings at Evans’ parent company, April Topco, fell from £2.2m to £2m in the year to 28 October 2017. However, turnover increased slightly to £138.8m.