Fashion giant Matalan has secured a £25m funding boost from its anchor investors to support its “multi-year business transformation plan”.
The Knowsley-based clothing and homewares retailer has agreed the funding deal with its backers Invesco, Tresidor, Man Group and Napier Park.
The funding will support its business plan which includes store openings and the revamp of existing outlets, investment in its supply chain, and the launch of a new app the group says will underpin its loyalty programme and e-commerce channels.
READ MORE: {}
It follows the appointment of Sarah Welsh as chief product and commercial officer.
Karl-Heinz Holland, executive chair of Matalan, said: “We are delighted to have secured this additional funding from our anchor investors. The funds will enable us to build on the progress we have already made in delivering our strategy, and accelerate investment across the business – from our stores through to our supply chain. We look forward to driving Matalan’s transformation forward as we continue on our journey to deliver sustainable, profitable growth.”
Matalan has more than 270 stores in the 海角视频 and beyond, and serves 11m shoppers each year. The group was founded by Merseyside entrepreneur John Hargreaves and was taken over by its lenders in January 2023.