All Matalan articles – Page 3
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NewsMatalan founder Hargreaves tables last-ditch bid to retain control
Matalan founder John Hargreaves has lodged a final offer for the clothing chain in a last-ditch bid to retain control of the business.
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NewsMatalan poised to fall into hands of lenders
Matalan’s lenders are preparing to take control of the business following the deadline for rescue bids last Friday.
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NewsMatalan names Nigel Oddy as interim chief executive as it searches for buyer
Matalan has appointed retail veteran Nigel Oddy as chief executive on an interim basis, while founder and chair John Hargreaves is to step down.
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NewsMatalan hunts for buyer as Joules credit insurer pulls cover
Matalan has hoisted the ‘for sale’ sign as the value fashion firm grapples with inflationary pressures.
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NewsMatalan founder Hargreaves returns as chair
Matalan founder John Hargreaves has returned to the business as executive chair after 15 years
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NewsMatalan sales and profits rise despite Covid-related ‘obstacles’
Matalan has posted an increase in both sales and profits as the business recovered from the impacts of the pandemic.
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NewsMatalan founder Hargreaves loses court battle over tax bill
Matalan founder John Hargreaves has lost a long-running court battle over a multimillion-pound tax bill.
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Future LeadersM&S, Kingfisher and Lidl back major retail I&D programme
Fifteen major retailers and brands have joined forces with Be Inspired, Retail Week’s six-year-old diversity initiative to promote inclusivity across the industry in 2022 and beyond.
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NewsISawItFirst names former Matalan executive as new boss
ISawItFirst has appointed former Matalan deputy chief executive Greg Pateras as its new chief executive.
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Retail Navigator Analysis
Matalan (Overview)
Matalan is one of the UK’s leading value retailers with a domestic estate of around 230 stores – mainly situated on retail parks – as well as 50 international stores, and online operations. Products range from womenswear and menswear to homeware and furniture.
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Retail Navigator AnalysisMatalan (SWOT)
Matalan is operating in a highly competitive value clothing market and risks losing share to more dynamic value players such as Primark, TK Maxx and George by Asda. Matalan’s new investment group owners committed to pouring an extra £100m in new capital into Matalan and promised an extension of debt maturities to 2027. They also agreed a £257m “day-one significant debt reduction”, which took the brand’s total debt to £336m. Matalan needs to maximise on the lifeline the new ownership offers as it moves ahead without the experience of former chair and co-founder John Hargreaves on board.
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Retail Navigator AnalysisMatalan (People)
Jo Whitfield stepped down from the CEO role at Matalan, in October 2024, after just over 18 months with the business, to “pursue a portfolio career”. The search for Whitfield’s replacement is underway with Matalan chair Karl-Heinz Holland acting as executive chair in the meantime.
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Retail Navigator AnalysisMatalan (Financials)
Matalan reported that its total revenue was down 6.2% year on year to £1,082m in the 2023 financial year to 24 February 2024 as it focused on improving underlying profit and full price sales. The drop in sales reflected “strategic decisions”, as well as challenging market conditions. Pre-tax losses narrowed by 44% year on year to £60m in FY2023.
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NewsMatalan sales slip as store closures disrupt Christmas trading
Matalan has recorded a slide in sales over Christmas after online growth failed to mitigate the impact of enforced store closures.
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NewsLeading retailers pledge to take action on diversity and inclusion in 2021
Following a year where business’ D&I agendas have come under scrutiny, 16 brands including M&S, New Look and Sainsbury’s Argos have partnered with Retail Week’s Be Inspired programme to promote diversity and empower their teams.
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NewsMatalan reshuffles board as CEO Jason Hargreaves steps down
Matalan’s chief executive Jason Hargreaves is stepping down from the fashion and homewares retailer after a seven-year tenure at the helm.
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NewsMatalan crashes to first-quarter loss as lockdown hits bottom line
Matalan has tumbled into the red on its first-quarter result as boss Jason Hargreaves described coronavirus as “the biggest challenge ever faced by the sector”.
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NewsMatalan bolsters board as full-year profits fall
Matalan’s full-year profits dropped despite a slight uptick in revenues, amid a challenging backdrop of political uncertainty and decreased spending.
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NewsMatalan founder Hargreaves asks lenders for £50m cash injection
Matalan founder and owner John Hargreaves has reportedly tapped existing lenders for a £50m loan.
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NewsMatalan Christmas sales edge up despite ‘unprecedented’ uncertainty
Matalan registered an uptick in sales during its peak trading period despite “unprecedented levels of political uncertainty”.
