Mike Ashley Archives

Mike Ashley

Evans Cycles back in profit after years of heavy losses – despite revenue falling due to closure of eight stores

The Frasers Group-owned retailer posted a profit of £388,000 for 2025, just two years after suffering a huge £28m loss

Fri, May 22, 2026 15:40

Mike Ashley’s Frasers Group swoops to buy Frog Bikes, as embattled children’s bike brand joins growing Sports Direct and Evans Cycles empire

Frog Bikes went into administration in February following what the company’s owners described as “a series of significant challenges”, including the impact of Brexit

Thu, Apr 30, 2026 11:59

Sports Direct and Evans Cycles owner Mike Ashley reportedly to bid to save Frog Bikes from administration

If successful, the brand would be the latest cycling acquisition for the Sports Direct after Wiggle Chain Reaction Cycles in 2024

Wed, Mar 18, 2026 17:48

Wiggle administrator reveals beleaguered cycling retailer made £10.4m profit during administration

Heavy discounting and clearance promotions led to £41m in sales in the year since Wiggle entered administration, Mike Ashley's Frasers Group buying the brand's intellectual property for £3m at the start of 2024

Tue, Nov 26, 2024 10:43

Evans Cycles opens new 3,300 sq ft Bristol store (Evans Cycles)

Evans Cycles set to open two new stores as brand aims to become “go-to destination for cycling”, just weeks after reporting £22.8m loss and slashing bike prices in 70% sale

The cycling retailer is set to open a new 3,300 sq ft store in Bristol, complete with service centre and 150-bike showroom, on Friday, before opening another new shop in Sheffield attached to Frasers Group’s flagship department store

Thu, Aug 29, 2024 12:47

Evans Cycles store and online sale August 2024

Evans Cycles blames “supply chain issues” for £22.8m loss, as 70% sale sees bike prices slashed online

The accounts are for the financial year before the purchase of Wiggle Chain Reaction and suggest Evans was hit hard during the bike industry's struggles, the loss significantly worse than the £5m reported a year earlier

Thu, Aug 08, 2024 10:33

Wiggle and Chain Reaction websites to be relaunched next week, as Frasers Group aims to become the “no.1 sporting goods retailer in Europe”

Mike Ashley’s group has also acquired the rights for Wiggle’s in-house ranges, including Nukeproof, Vitus Bikes, and DhB

Fri, Mar 22, 2024 12:55

Wiggle and Chain Reaction websites shut, with all remaining orders to be “fulfilled within 7-10 days”

One customer managed to bag 15 cycle computers at 99p each before Wiggle and Chain Reaction’s sites were replaced by holding pages yesterday, with all remaining stock and assets set to be sold by Friday

Wed, Mar 20, 2024 11:12

Final clear out as Wiggle Chain Reaction Cycles invites bids for remaining warehouse stock

The retailer, which appointed a liquidator this week, has invited interested parties to enter a sales process, with “best and final offers on the stock and assets of the business” expected by 22 March

Wed, Mar 13, 2024 18:17

Wiggle Chain Reaction parent company appoints liquidators

Latest update comes after Mike Ashley's Frasers Group, which also owns Evans Cycles and Sports Direct, reportedly bought WiggleCRC's brand and intellectual property for less than £10 million, leading to 450 job cuts

Tue, Mar 12, 2024 12:19