VEENENDAAL, The Netherlands - The sale of Halfords NL by its owner Macintosh Retail Group has been postponed. “The current economic situation makes it difficult for buyers to finalize financial arrangements”, is stated in the official announcement by Macintosh Retail Group.
Halfords has been for sale since July 2011 and it was expected that the process would be settled by the end of December 2011. There are three bidders: The Dutch Bicycle Group (DBG) and two private investors.
Macintosh expects that the selling price for Halfords will be less than the balance sheet value and booked a substantial loss for 2011. Despite this impairment, Macintosh expects the total net profit for the whole group over 2011 will be almost double compared with 2010.
Annually Halfords sells and estimated 120,000 new bikes, including e-bikes in the Netherlands and Belgium. Halfords has a market share of approximately 10% on the Dutch market. Union is the flagship brand of Halfords which is produced by bidder DBG. Parts and accessories for Halfords stores are supplied by Buzaglo.