Cycle retailer could close with 226 jobs at risk
Bike shop Cycle Retailer, with a store in Norwich, could be closing with up to 226 jobs nationwide in danger of redundancy.
The retailer, which has a store in Castle Quarter, is owned by Halfords which is looking at how to make its cycling business more profitable.
Halfords announced it is planning to close Cycle Republic, which has 14 stores nationwide including Norwich as well as eight more in London.
A spokesman from the Norwich Cycle Republic said he was expecting a conference call to discuss the matter but could not comment further.
The decision to close it comes after Halfords did a review of Cycle Republic and found it was “low-returning and stock intensive,” it said.
You may also want to watch:
It has promised to consult with the 226 people who work for Cycle Republic to try to “mitigate redundancies where possible”.
It is also actively exploring selling the business instead. Stores will close in the first half of next year if a buyer cannot be found.
- 1 'It's nonsense': Shoppers react to Norfolk's Tier 2 announcement
- 2 What counts as a substantial meal under Norfolk's tier 2 pub rules?
- 3 Would you know what to do if your car hit a deer?
- 4 Man arrested after woman suffers broken collar bone in row over mask
- 5 New appeal as pregnant woman goes missing again
- 6 Several weeks into lockdown, Norfolk sees sharp decline in coronavirus infection rates
- 7 Green light for new Tesco store in town centre
- 8 Commuter trains halted as Norwich to London line blocked
- 9 'Incredible' donation pays for expansion of Norfolk's largest ancient wood
- 10 PRESSER LIVE: Norwich City v Coventry City - Krul out three weeks; Pukki out this weekend