Evans Cycles parent in talks with banks to overhaul financing deals

ECI Partners, the parent of cycling chain Evans Cycles, is reportedly in talks with its lenders following a poor start to 2016 trading.

As reported by Sky News, the firm’s parent is renegotiating its financing structure with banking partners, blaming persistent poor weather as one reason for the poor start to the year.

Managing over 60 branches across the UK, the chain has been under the ECI Partners umbrella since May last year.

The firm has reportedly dismissed comments that it is “in trouble”, though has declined to comment further.

Key competitor Halfords has also recently pointed to poor cycling conditions, as well as Brexit’s knock on effects, which has similarly dented its forecast for 2016.

More on this story as we have it.