With four biddders having now tabled their respective final offers for Matalan late last week, the outcome is awaited. Amongst the bidders is Matalan founder John Hargreaves who has mounted a bid on a 50/50 basis with Elliot Advisors. Other bids, it is understood, have come from Alteri and OpCapita as well as from the senior lenders to Matalan who pressured the retail business to launch a sales process in September. This had led to Hargreaves stepping down from his role as Matalan chair in order to be able to bid for the business.
Matalan has 230 UK stores, sells online and has 25 international stores which are franchised. The business was founded in 1985.
Share