Halfords is thought to still be interested in acquiring arts and crafts retailer HobbyCraft as the deadline for final bids, April 19, draws closer.

According to one source close to the situation, Halfords is still “going at it quite hard”.

Private equity firms Exponent, Bridgepoint and TA Associates, which bought Cath Kidston last week, are still believed to be involved in the process.

The car parts and cycles specialist did not submit a first round bid, and would not comment on “specific assets”, but a source close to Halfords said it “still maintains an interest in the process” of the HobbyCraft sale.

However, an acquisition of HobbyCraft by Halfords could be deemed risky. Some investors fear it would recreate the ill-fated Ward White conglomerate-style structure Halfords was part of in the past.