Matalan founder John Hargreaves could get a £250m dividend in a deal that would allow him to re-negotiate the company’s debts.
Press reports say that Hargreaves is in talks with banks and other investors in an effort to effect a £525m refinancing of the retailer. Part of the money would be used to repay Matalan’s £260m debt, with the rest going to controlling stakeholder Hargreaves.
Hargreaves failed to sell Matalan, which he launched in 1985, earlier this year.
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