Evans Cycles

If the landlord has taken possession of the premises, by not letting customers retrieve their bikes aren’t they withholding property that isn’t theirs? Stealing, in other words.

It isn't the only shop this has happened to today.

I think there will be a lot of people taking the bus home tonight.

Sucks for the employees.

AFAIK, that's my understanding, compound by the complication of some customer's bike may have part fitted that have yet to be paid for.

Stealing, in other words.

Not really. Stealing requires an intention to permanently deprive the owner of the item. The landlord would argue they aren't doing this as the items are just caught up in Evans not paying their rent and they'll get them back when the issue is resolved. In other words, it's not the landlord's responsibility to sort out items that only Evans knows the proper ownership of.

Anyway, it's shitty for all involved.

But the content in the stores isn't the property of the landlords surely?

If the landlord has taken possession of the premises, by not letting customers retrieve their bikes aren’t they withholding property that isn’t theirs? Stealing, in other words.

Depends how they gave notice, they most likely had an agreement with the previous owners of Evans and have sent multiple notices to the old addresses which have obviously been ignored. If all they had in the way of communication from Sports Direct was show boating and demanding lower rent then locking the premises and taking everything on site as payment of rent due makes sense. I've had to arrange similar in my past job for landlords of an office block, locked out a solicitors firm and must have caused countless damage and disruption to clients they had by extension but if they made a choice to ignore notices continue trading and not vacate or communicate what are they to do.

But the content in the stores isn't the property of the landlords surely?

Exactly. So who do the landlords give it to? Anyone that turns up and points to something saying "that's mine"?

The property in the store is the leverage that the landlords need to get Evans to sort things out properly. Sucks for the customers invovled but the little people will get fucked over in a game of landlords vs tenants.

The landlords will expect:

1. money outstanding
   
2. money for repairs/restoration to original condition
   
3. cost to dispose of additional items
   
   

Unless you have a shop full of gold bars or diamonds the charge for a bailiff or similar to remove, store and eventually sell all the stock will almost always balance out so the landlords get almost all of what they are owed and then the bailiff fee collects the rest. Especially for that shop if I remember right it's downstairs so the fee for labour will be huge if they need to justify it carrying bikes up the stairs one by one and then selling them to barely cover the labour charge.

Firemans key?

I read an email today, spits was on a rolling contract, with two months notice period from landlord, apparently this has not been given, and landlord has just shut up shop it seems.

This is from how I interpreted this email. Not 100% without asking higher ups.

AFAIK, it's the landlords that are in disagreement to the rental contract, speculation may be higher rates after learning it got brought out by Sport Direct and using that as leveraging tools.

They seem to have had near £7k outstanding 10th jan going by the statement of affairs(7 lines up on page 13).

https://beta.companieshouse.gov.uk/company/02784079/filing-history

I'm guessing they have told the landlords(and all others owed) they won't get that as part of the "rescue" and so the landlords have just gone the route of locking the doors and getting everything they are owed rather than do a merry dance with them for months negotiating a lower rent and then having them leave the property in an unfit state so they pay to make it suitable for the next tenant.

That list is immense.

This is around the corner from me. Same thing happened to Patisserie Valerie on the same lot.

Reading the letter from CBRE I note that it was addressed to "FWE Realisations ltd"...
W/o simplifying too much, doesn't that mean that the "new Evans Cycles " (under Sports Direct's ownership) have just decide to do a big write-off of this store including any stock holding and happy to wash their hands off sales/repairs in progress/debts and rents to clear??...

Usually there is a 14/28 days period where the evicted tenant can collect their stock/merchandise/tools/fittings/etc after the property has been locked down.
It will take a while to sort things out but now is all in tenants’ hands, obviously only if they wish to cooperate or care about customers property.

They’re moving customer bikes to another stores.

@Breso Nope. They have to be out today apparently, with a possible extension for tomorrow.
People are inside breaking it down.

I didn't notice that, but then I don't have eagle eyes. :)

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nods

So glad I'm not the only one who casually browses companies house filings for fun. Yes, I should get out more.

Jeez, getting down to the pointy end of the stick now. Got mates who were let go already from stores up here, some with many years under their belts with the company others with only a few months. Doesn't appear from what I see that they are being loyal to anyone or seemingly keeping those with most experience/most will to continue working for the company, just numbers on a spreadsheet that can be expended at the minimal notice.

just numbers on a spreadsheet that can be expended at the minimal notice.

Bang on.

Doesn't matter if you have 7 years or 7 months, you're treated and paid the same.

Good service from Josh at the King's Cross branch. Nice guy, knew what he was talking about, did a good service on my bike

Needed a part which the distributor told me I could order through Evans. Rang Evans London Bridge, no they can't, was told that they no longer deal with Fuji apparently.

Fine. Rang Evans HQ, was told to email Special Orders, SO came back, yes they still deal with Fuji. Free delivery if I order in store. Fiver extra if delivered to me.

Decided to go to Evans The Cut to place the order, bit of a wait to get their system to locate the distributor plus part but at least I'm 3 weeks away from riding my bike!