Matalan founder in line for £250m payout

Matalan founder John Hargreaves could get a £250m dividend in a deal that would allow him to re-negotiate the company’s debts.

Matalan founder in line for £250m payout

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.


Check Also

How to Deep Clean Every Room in Your House

Even the most well-kept homes need to be thoroughly cleaned occasionally. Deep cleaning your house …