Matalan secures £25 million in additional funding
Matalan has secured an additional £25 million worth of funding from its anchor investors.
Provided by Invesco, Tresidor, Man Group and Napier Park, the funds will be used to accelerate investment to support the fashion and homeware retailer’s multi-year transformation plan and strategy delivery.
Key initiatives will include store refreshes, new shop openings, supply chain investment, and the launch of a new app that will underpin Matalan’s ecommerce channel and loyalty programme.
Karl-Heinz Holland, executive chair of Matalan, said: “We are delighted to have secured this additional funding from our anchor investors.
Never Miss a Retail Update!“The funds will enable us to build on the progress we have already made in delivering our strategy, and accelerate investment across the business – from our stores through to our supply chain.
“We look forward to driving Matalan’s transformation forward as we continue on our journey to deliver sustainable, profitable growth.”
The news follows Matalan’s recent appointment of Sarah Welsh as chief product, brand and commercial officer.
