UK High Street Chain Evans Looking for 10 Million Restructuring Funds
LONDON, UK - Media in the UK are reporting that the 60 stores strong UK high street bicycle retailer Evans Cycles has hired a financial restructuring firm and that a financial lifeline of GBP 10 million (11.2m euro) borrowing is required. This comes on the back of Evans Cycles' latest accounts showing pre-tax losses of GBP 2.5 million (2.8m euro) in the year to October 28, 2017 (despite sales edging up to GBP 138.8 million - 155.7m euro), following losses of GBP 5.8 million (5.8m euro) a year prior.
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