THE RETAIL BULLETIN - The home of retail news
20 years serving the retail industry
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
Retail HR 2022
THE Retail Conference 2022
Retail Women In Leadership 2022
Digital Transformation Strategy 2022 Part 2
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Senior bondholders call for talks over Matalan’s future

Matalan’s senior bondholders have reportedly called for talks over the retailer’s future as the cost-of-living crisis continues to bite into the company. Lenders have sought the… View Article

FASHION

Senior bondholders call for talks over Matalan’s future

Matalan’s senior bondholders have reportedly called for talks over the retailer’s future as the cost-of-living crisis continues to bite into the company.

Lenders have sought the advice of financial services firm Perella Wellbeing to understand what their options are as they are set to receive a £350m payment next year, Sky News first reported.

Junior bondholders are said to have been appointed as advisors investment bankers Houlihan Lokey, as they are owed £80m.

According to individuals close to the matter, refinancing talks are set to go on during the summer.

Sources have said founder John Hargreaves will be forced to inject additional funding into the company to maintain control.

Employing 10,000 people in over 230 stores across the UK, Matalan is one of the biggest private retailers in the country. The company made the headlines in February when a UK judge rules Hargreaves would need to pay £135m of taxes from 20 years ago, when he sold Matalan shares.

“Matalan is continuing to evaluate alternatives and monitor market conditions with respect to a potential refinancing of its outstanding indebtedness,” the retailer said following the ruling.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News