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Halfords mulling bid to rescue Wiggle

Halfords, the high street car and bicycle specialist, is reportedly joining the group of suitors for the stricken online retailer Wiggle. Halfords, which has a market… View Article

SPORTS AND LEISURE NEWS

Halfords mulling bid to rescue Wiggle

Halfords, the high street car and bicycle specialist, is reportedly joining the group of suitors for the stricken online retailer Wiggle.

Halfords, which has a market capitalisation of just over £500m, has registered its interest in a bid for Wiggle CRC, which fell into administration last month.

Halfords will be going against Sports Direct and Evans Cycles owner Frasers Group, which is also among the bidders.

The retailer has already stepped in to honour warranties on products bought from Wiggle and Chain Reaction.

The collapsed company, which includes Wiggle, Chain Reaction Cycles and the Vitus and Nukeproof cycling brands, became insolvent after losing the financial support of parent company Signa Sports United.

Wiggle CRC employs about 450 people, and is continuing to trade during the administration process.

FRP Advisory is handling the insolvency process.

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