Matalan is eyeing sale!
The renowned clothing retailer from the UK is looking for a buyer even as it is battling inflation-induced constraints.
If media reports are anything to go by, John Hargreaves, Founder and Chairman, Matalan, has been working closely with advisors at Lazard to find a buyer or an investor to inject fresh equity.
John, reportedly, has been proposing to pump tens of millions of pounds into Matalan.
There have also been reports of John hoping to retain outright control of the retailer with some pushback on the same from senior creditors.
Though it is not still clear how much John plans to pump into the retailer, sources suggest this could range anywhere between £ 25 million and £ 50 million.
Founded in 1985 by John Hargreaves, Matalan – as of 2020 – had 13,000 employees and 230 stores in the UK, besides franchise stores in the Middle East.
