lost a long-running court battle over an attempt to avoid a tax bill of up to \u00a3135 million.<\/a><\/span> The businessman, who is based in Monaco, has been ordered to pay capital gains tax on his sale of \u00a3231 million of Matalan shares in May 2000.<\/p>\nJohn Hargreaves, Founder and Chairman of Matalan, said: \u201cI would like to personally go on record and thank Steve for all his invaluable leadership and contribution over the last two years. Steve joined the business in a non-executive chair capacity and I am grateful that he agreed to step into an executive role to help guide the Company through the pandemic. Nobody could have predicted the pandemic or the more recent macro-pressures affecting the retail industry.<\/p>\n
\"Matalan\u2019s navigation of these challenges, our market share gains, and the top-line performance announced in our latest trading updates, are testament to Steve\u2019s leadership and our colleagues\u2019 ongoing dedication. My belief in, passion for, and commitment to our business is stronger than ever and I look forward to maximising our growth potential, along with the senior leadership team, delivering true omnichannel value for our customers. On behalf of the Board, I would like to wish Steve all the very best with his future endeavours.\"<\/p>\n
Steve Johnson added:\"It has been a pleasure to lead and work with all the colleagues at Matalan over these last two extraordinary years. Matalan\u2019s great value proposition is well positioned to prosper over the coming years. I wish everyone in the business every success in the future.\"<\/p>\n
Last month, Matalan announced its results for the 52 weeks ending 26 February 2022, reporting a rise in revenues from \u00a3744.1 million in 2021 to \u00a31.03 billion in 2022<\/a><\/span>. Despite a rise in revenues, the company reduced its number of employees from 11,558 in 2021 to 10,837 in 2022, mostly across retail and distribution roles.<\/p>\n","protected":false},"excerpt":{"rendered":" […]<\/p>\n","protected":false},"author":49,"featured_media":212990,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[6,20822],"tags":[15841,23617,19684,12352,35],"acf":[],"yoast_head":"\n
Matalan founder John Hargreaves returns as Chairman - TheIndustry.fashion<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n