Matalan
This coverage explores Matalan’s strategy and performance in the UK retail sector, focusing on store operations, financial results, leadership decisions, and brand positioning. Reporting highlights how Matalan responds to market challenges and customer trends, offering insights for retail executives, managers, and professionals monitoring value-focused and family-oriented retail.
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Jan- 2023 -16 JanuaryHigh Street
Matalan rescue deal to wipe founder’s control of group
Matalan founder John Hargreaves is reportedly set to lose control of the group after its lenders finalised a rescue deal that eliminates his equity, despite the retail tycoon submitting his own takeover bid for the group. According to the Times, Matalan is set to announce that lenders Invesco, Man GLG,…
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4 JanuaryHigh Street
Matalan lenders close in on takeover deal
A group of investors who have lent hundreds of millions to Matalan are closing in on a deal to take over the company, according to reports from Sky News. Senior lenders, including big names such as Invesco and Man GLG, could agree a deal in the next two weeks which…
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Dec- 2022 -23 DecemberHigh Street
Matalan sets January deadline for sale process
Matalan has announced that it plans to complete its sale process by the end of January 2023, after which a “comprehensive update to the market” will be provided, according to Drapers. The business said that, as of 15 December 2022, it had “received bids from a number of interested parties”.…
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19 DecemberHigh Street
Matalan founder to make final bid for group
John Hargreaves, the founder of fashion retailer Matalan, has announced his final offer to keep control of the company he founded in 1985. According to The Sunday Times, he has teamed up with Elliott Advisers, a private equity firm, for a 50-50 bid for Matalan. Hargreaves is reportedly expecting his…
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Oct- 2022 -24 OctoberHigh Street
Lenders prepare to take control of Matalan as bid deadline hits
Lenders are reportedly preparing to take control of Matalan after the deadline for its rescue bids was hit last Friday (21 October). According to The Telegraph, the bondholders who are owed £350m by Matalan “effectively control the business” after it failed to refinance the debts earlier this year. The Telegraph…
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18 OctoberHigh Street
Matalan secures 6 month extension to £350m debt repayment
Matalan has announced that it has secured a deadline extension for its £350m debt repayment. The company revealed the original date of January 2023 has been pushed back to July 2023, after over 90% of the holders of its 6¾% first lien secured notes of £350m due in January 2023…
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12 OctoberHigh Street
Elliott in talks with Matalan founder over takeover bid
Elliott Advisors has reportedly entered talks with John Hargreaves, the founder of Matalan, regarding his bid to buy back the business, according to Sky News. The investment firm is said to be discussing potential plans to help fund his offer, as the group undergoes a sales process while facing “hundreds…
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Sep- 2022 -27 SeptemberHigh Street
Matalan announces new CEO as sales process begins
Matalan has announced the appointment of Nigel Oddy as interim CEO of Matalan Retail Ltd as the company begins a strategic sales process, joining the business initially on an interim basis, with effect from 3 October 2022. Oddy has significant retail experience in senior leadership roles, most recently at New…
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14 SeptemberAnalysis
Is the rise in distressed M&As set to continue?
The number of merger and acquisition (M&A) deals targeting UK retailers has increased in the last year, up from 28 transactions to 34 in the last 12 months, as deals in the sector “buck the overall slowdown in M&A”, according to RPC, the international law firm. However, the UK has…
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12 SeptemberHigh Street
DFS announces new chair
DFS Furniture has announced that Steve Johnson will succeed Ian Durant as chair at the conclusion of the annual general meeting on 4 November 2022. Johnson joined the board in December 2018 and is currently the chair of the remuneration committee. He has retail experience having previously held several senior…
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