// Matalan is on the hunt for a buyer as it struggles to trade through soaring inflation
// Founder John Hargreaves is working with Lazard to either find a buyer for the entire business or an investor
Matalan’s founder is eyeing a potential sale as the value fashion retailer struggles with inflationary pressures.
The retailer’s founder and chairman John Hargreaves is understood to be working with advisors at Lazard to either find a buyer for the entire business or an investor to inject fresh investment, according to The Sunday Times.
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Hargreaves, who reinstated himself as chairman of the value retailer last month had proposed pumping tens of millions of pounds into the retailer as a leadership tussle takes hold of the firm.
It was reported that Hargreaves was hoping to retain outright control of the company, with City sources suggesting some pushback on this from senior creditors.
It is unclear how much Hargreaves is prepared to plough into the retailer, although sources have suggested it could range between £25 million and £50 million.
The company is approaching a January deadline for refinancing £350m in debt, with an additional £130m instrument is scheduled for repayment the year after.
