Matalan's interim chairman has stepped down after the takeover of the fashion retailer was completed by a group of its lenders.
Tim Issacs took on the role in September after founder John Hargreaves left in order to bid to take control of the company himself.
However, a group of its lenders, led by Invesco, Man GLG, Napier Park and Tresidor, won the race to takeover the business earlier this month.
