Evans Cycles reports £22.8m loss
Evans Cycles blames "supply chain issues" for £22.8m loss, as 70% sale sees bike prices slashed online
As per the retailer's income statement for the financial year ending 30 April 2023, the business's revenue was up slightly on the previous year , however much-increased"administrative expenses" saw a pre-tax loss reported of £23.2m, reduced to £22.8m after tax. Independent auditors concluded they"have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue".
> Is now the best time ever to buy a bike? What cycling industry turbulence and deep discounting could mean for you Clothing from Endura and Rapha has also been spotted with reductions, while Shimano components and other tech are also involved.We’ve noticed you’re using an ad blocker. If you like road.cc, but you don’t like ads, please consider subscribing to the site to support us directly. As a subscriber you can read road.cc ad-free, from as little as £1.99.
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