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Liverpool Echo
Liverpool Echo
World
Jon Robinson

John Hargreaves to lose control of Matalan as takeover deal agreed

John Hargreaves Matalan

Matalan founder John Hargreaves is set to lose control of the fashion retailer after a take over deal was agreed.

The Liverpool-headquartered company is to hand control to a group of its lenders in a recapitalisation process. The group, led by Invesco, Man GLG, Napier Park and Tresidor, have sealed the process after Matalan launched a sales process in September.

The transaction is due to complete on January 26. The lenders have cut the group gross debt by £257m to £336m and agreed up to £100m in new growth funding as part of the deal.

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