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TM
"An administrators’ proposals document revealed that PwC concluded “almost all the stores were profitable” but the company was “burdened” by fixed costs at its head office."
"Evans had debts of £85m when it failed, with secured lenders HSBC and AIB owed £28m and private equity firms due £33m.
Unsecured creditors such as suppliers and the taxman were owed £24m and can expect to receive only 2.5p in every £1 owed. Bike manufacturers Specialized and Trek were owed £3.9m and £1.9m respectively."
https://www.telegraph.co.uk/business/2018/11/17/sun-evans-cycles/