Matalan news and archive

Matalan reports drop in Q1 revenue

British fashion and homeware retailer Matalan has reported an 8 percent drop in revenue in the first quarter, but gave an upbeat outlook on its full-year profit. The company made revenue of 263.6 million pounds in the three months to May 27, down from 286.5 million pounds a year earlier. Its EBITDA post adoption of IFRS 16 narrowed to 26.1...

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Matalan continues to bolster top team with new retail, supply chain chiefs

British fashion and homeware retailer Matalan has announced the appointment of retail and supply chain chiefs, adding to a spate of executive hires in recent months. The company has named Phil Hackney as its new chief supply chain operations officer and Katherine Davis as chief retail officer - two newly created roles that aim to “support...

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Matalan appoints Ben Smith to new chief trading officer role

Matalan has announced that Ben Smith will be taking on the newly created role of chief trading officer with immediate effect, as part of its ongoing transformation programme. According to Retail Week, which reported the news, Smith will report directly to chief executive Jo Whitfield, who said in a statement to the publication: “Ben’s extensive...

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Matalan appoints chief customer and omni-channel officer

Omni-channel fashion and homeware retailer Matalan has appointed Ali Jones into the new role of chief customer and omni-channel officer. The company said in a release that Ali will join the business tomorrow, April 19, and her initial focus will be establishing a new customer function within Matalan to connect all customer touchpoints and...

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Matalan names Karl-Heinz Holland as chairman and Jo Whitfield as CEO

Fashion and homeware retailer Matalan has appointed Karl-Heinz Holland as the company’s new chair, Jo Whitfield CBE, former CEO of Co-op Food, as the new CEO. The company said in a release that Nigel Oddy, interim CEO of Matalan, has concluded his six-month role and Paul Copley will step down from his interim chair role and will remain on the...

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Former Co-op CEO reportedly in line for top Matalan role

Jo Whitfield, the former chief executive of supermarket chain Co-op, is said to be one of the frontrunners to potentially take on the CEO role of fashion and homeware retailer Matalan. The news comes as a report by Sky News, which said Whitfield, who left her position at the Co-op Group last year, is in “detailed talks” with the retailer’s new...

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Matalan secures recapitalisation via new owner, founder ‘disappointed’

Matalan has been acquired by a group of lenders that will take over the discount retailer in a deal that is said to reduce its significant debt burden. The group, which includes Invesco, Man GLG, Tresidor and Napier Park, will assume control of the company next week, Matalan said in a press release. As part of the deal, the shareholders, which...

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Matalan lenders reportedly inching closer to takeover deal

A group of financial investors are said to be close to securing a deal to takeover British budget retailer Matalan in a bid to cement its short-term future. The consortium, which includes the likes of Invesco and Man GLG, are understood to have proposed funds that would inject around 100 million pounds into the retailer, according to Sky News....

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Matalan looks to complete sales process by January

British retailer Matalan has outlined further plans for its ongoing sale, now stating that it is aiming to complete the strategic process before the end of January 2023. In a regulatory update, the company reaffirmed that it had received bids from “a number of interested parties” and was currently assessing all of them while holding “...

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Matalan founder joins four bidders in attempt to snap up retailer

Founder of Matalan John Hargreaves is said to be among four bidders to have placed an offer for the British retailer, in a last ditch attempt to keep hold of the chain. According to The Sunday Times, Hargreaves has partnered with private equity firm Elliot Advisers for an equal bid on Matalan. The publication further reported that other parties...

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Matalan hires former New Look boss as interim CEO amid sales process

Matalan has announced the appointment of former New Look boss Nigel Oddy to interim CEO as the retailer undergoes a formal sales process and growth strategy. Oddy will join the company from October 3 following his departure from New Look in June where he was credited with navigating the pandemic and delivering on an omnichannel strategy. He has...

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Matalan founder ‘faces fresh tussle’ with lenders over control of company

Matalan founder and chair John Hargreaves is reportedly preparing for a tussle with lenders over the company's ownership ahead of a January deadline for refinancing 350 million pounds in debt. Hargreaves, who founded the British fashion and homeware retailer in Liverpool in 1985, is looking to invest tens of millions of pounds into the company...