Halfords mulls £30m Blacks bid

Halfords is understood to be mulling a £30m bid for Blacks which this month announced its proposal to raise £20.3m through placing and open offer as part of its turnaround plan.

Blacks has also sold its Mambo surfwear brand for £800,000 to the chief executive of cosmetics retailer Lush, Andre Gerrie, via his Hong Kong investment vehicle.

The outdoor specialist has been attempting to end its ill-fated relationship with surfwear for some time. Last year it placed its Sandcity boardwear division into administration which operated surfwear chains Freespirit and O’Neill, after suffering heavy losses.

Halfords is looking at the possible acquisition of at least three businesses according to reports but declined to comment on Blacks.

Another likely target is HobbyCraft, the arts and crafts retailer, which has been put on the market with a £70m price tag.