As has been rumoured, Halfords has confirmed its intention to close Cycle Republic and its Boardman Performance Centre division. A consultation process has commenced with 226 affected staff, many of whom may face redundancy. Halfords is still hopeful of selling the division but, if it fails to secure a buyer, 20 stores will be closing from April.
Halfords CEO, Graham Stapleton said that the decision to close Cycle Republic was “difficult but necessary”. This follows the strategic update of November last year when the business stated its intention to improve the profitability of its cycling operation.
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