THE RETAIL BULLETIN - The home of retail news
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
People in Retail Awards 2023
Retail Marketplace Strategy 2023
Omnichannel Futures 2023
Retail HR Central
Digital Transformation Strategy 2023
Customer Engagement Strategy 2023
Retail HR 2023
THE Retail Conference 2023
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Matalan founder set to lose control of retailer

Matalan founder John Hargreaves is set to lose control of the fashion and homewares retailer. According to a report by This is Money, Invesco, Man GLG,… View Article

FASHION

Matalan founder set to lose control of retailer

Matalan founder John Hargreaves is set to lose control of the fashion and homewares retailer.

According to a report by This is Money, Invesco, Man GLG, Napier Park and Tresidor are likely to take control of the business as early as today. The firms have agreed to reduce the company’s debt by £250 million and inject funds of up to £100 million as part of a debt for equity swap.

The news follows Hargreaves stepping down as chairman last year and his efforts to maintain control of the business.

According to The Times, the deal will preserve the jobs of 11,000 employees. Discussions are said to be ongoing between the lenders and  Matalan interim chief executive Nigel Oddy on whether he will continue to run the business.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News