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.
