Halfords has agreed to transfer the ownership of half of Cycle Republic stores to specialist retailer Pure Electric, saving 85 jobs.
The cycling and autocentre retailer will transfer 11 stores that were previously slated for closure to Pure Electric, with employment contracts of 85 staff in affected stores moving as part of the deal.
Cycle Republic stores in cities including Birmingham, Bristol, Edinburgh and Manchester will remain open as Pure Electric stores as a result of the transfer, with the retailer’s remaining 11 stores that are not included in the deal to be shuttered.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.