Mike Ashley's Sports Direct acquired Evans Cycles

Mike Ashley's Sports Direct, a British retailing group, acquired Evans Cycles, a British cycle retailer, as part of a deal to save the struggling chain. Financial terms were not disclosed. Mike Ashley said: "We are pleased to have rescued the Evans Cycles brand. However, in order to save the business we only believe we will be able to keep 50% of stores open in the future. Unfortunately some stores will have to close."