Store chain Halfords has filed for bankruptcy, despite the huge restructuring it had undergone last year. Currently, it has 130 stores which mainly sell bike and car parts.
Focus on online
Halfords had been struggling for a while, which is why it decided to reposition the brand and cut costs last year. It had a larger focus on online sales and an expansive cross-channel strategy was developed. Halfords could not avoid bankruptcy, despite the changes.
Halfords blames the bankruptcy on "changing market conditions and a challenging economic climate". The company has 102 stores in the Netherlands, 28 in franchise and a main office in Veenendaal. It had opened a Belgian web shop about a year ago, after nearly all of its Belgian stores had closed. Only the Halfords store in Middelkerke remained.
Macintosh's general manager Peter Jan Stormmesand had bought Halfords for a symbolic euro last year. Halfords still owed that particular company millions through a 9.5 million euro credit option. Macintosh still has it in its financial records, as a 6.4 million euro option. The curators will sell Halfords' assets to pay back its creditors, like Macintosh.