UK retailers are urging strong government action as they deal with the Leicester garment factory scandal. The main company in the spotlight, Boohoo Group, and others are calling for a factory licensing system.
Steve Johnson is to take over as chairperson at value retailer Matalan and it has a new commercial chief too, with James Brown returning to the firm after having been commercial director of GM & Clothing at Sainsbury’s.
Matalan saw its revenue rising 2.3% in the year to the end of February, hitting £1.129 billion, with the company also saying that its market share grew and that its online growth was an impressive 24%.
The funding consists of a £25m revolving credit facility from the government’s Coronavirus Large Business Interruption Loan Scheme and £25m of new notes that will be purchased by a group of current bondholders.
John Hargreaves, the multimillionaire founder of discount retailer Matalan, is suing PwC over claims the accounting firm gave him bad advice on how to avoid paying taxes when he moved from the UK to Monaco.
Matalan has unveiled a new brand positioning with a campaign that celebrates the joy of bringing a sense of style to the everyday. 'Real Life Ready’ is the brand’s biggest rebrand in its 35-year history.