(Reuters) – British bicycles-to-car parts retailer Halfords <HFD.L> has made an offer for struggling rival Evans Cycles, Sky News reported on Wednesday.
Halfords was amongst a list of bidders that presented indicative offers for the almost century old British bike chain earlier this week, Sky said. https://bit.ly/2xHR75M
Halfords declined to comment on the report while Evans was not immediately available to comment.
The other turnaround investors that were interested required privately-owned Evans to find more than 10 million pounds in fresh capital to see it through the next few months of trading, Sky said.
A squeeze on British consumers from inflationary pressures and sluggish wage growth is denting spending on discretionary goods.
Halfords has a market capitalisation of 669 million pounds, according to Thomson Reuters I/B/E/S.
(Reporting by Mekhla Raina in Bengaluru; Editing by Elaine Hardcastle)