Sellers Say Halfords Should Pay Extra In £62M Auto Co. Sale – Law360

August 5, 2022 by No Comments

By Alex Baldwin (August 5, 2022, 3:52 PM BST) — The ex-owners of an auto servicing company acquired by Halfords have hit back at a lawsuit from the retailer demanding £1 million ($1.2 million) to cover its cash shortfall when the deal closed, arguing that the bike and car parts giant actually owes them money.

Axle Group Holdings told the High Court in a defense on Aug. 1 that Halford’s draft completion accounts were not calculated in the way that the two sides had agreed and excluded year-end figures that the previous owners say would have swayed the adjustment at closing in their favor. The filing has now been made public.

Halfords announced…

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