Halfords joins bid to rescue Wiggle
The retailer is said to have put up a bid to snap up Wiggle, joining Frasers Group, the owner of Sports Direct and Evans Cycles
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Halfords is reportedly among a group of retailers expressing interest in buying online sports retailer Wiggle, Sky News has reported.
The retailer is said to have put up a bid to snap up Wiggle, joining Frasers Group, the owner of Sports Direct and Evans Cycles.
Next is also believed to have been considered bidding, although a spokesperson for the company denied any interest to Sky News.
Wiggle, which fell into administration last month, employs 450 people and is continuing to trade with FRP Advisory handling the insolvency process.
Halfords has already stepped in to honour warranties and on products bought from Wiggle and Chain Reaction.
The London-listed company’s chief executive, Graham Stapleton, said: “We don’t want anyone to be left with worthless parts or accessories through no fault of their own, or to find they have paid in advance for a service that they can no longer benefit from.
“The cycling market is fundamentally sound and is ahead of where it was in 2019, but the extraordinary distortion caused by the pandemic and the volatility of the past three years has resulted in the closure of many independent bike shops, and now we are seeing large online retailers calling time too.”
Halfords has been contacted for comment.
