Matalan secures £25m funding to advance turnaround plans
Matalan has today announced that it has secured an additional £25 million of funding from its anchor investors to support its multi-year business transformation plan.
Anchor investors, Invesco, Tresidor, Man Group and Napier Park, have provided funding to refresh stores, open new stores, supply chain investment and support the launch of a new App which will underpin Matalan’s e-commerce channel and loyalty programme.
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."
The news follows the recent appointment of Sarah Welsh to the role of Chief Product, Brand & Commercial Officer, effective 10 March. In her new role, Welsh is responsible for "putting customers at the heart of Matalan’s proposition", appealing to a broader audience while inspiring existing customers.
In November 2024, Matalan also hired James Dorling as Director of Property and appointed Keith Down to its board as Non-Executive Director and Chair of the Audit Committee. This followed CEO Jo Whitfield's exit in October.
