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JD Sports Fashion and Sports Direct said to be interested in Evans Cycles

Sports Direct recently rescued House of Fraser from administration

JD Sports Fashion and Sports Direct International are reported to have joined Halfords in tabling indicative offers for Evans Cycles.

Evans is said to require more than £10m to see it through the next few months of trading and ECI Partners, the private equity owners of the business, have been inviting bids.

Last week we reported interest from Halfords and Sky Sports reports that JD Sports and Sports Direct have joined them.

JD Sports, which owns the Go Outdoors chain, is described as having a “genuine interest,” although the position of the Mike Ashley-owned Sports Direct is less clear.

Sports Direct recently rescued House of Fraser from administration and last week sacked the department store’s directors and senior management.

ECI bought Evans Cycles in 2015 and refinanced the company the following year following a fall in profits. It has been lossmaking over the past two years during a period of expansion.

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