Founder abandons sale of discount retailer Matalan

02/11/2010 | Financial Times (tiered subscription model)

TPG, Advent International and Warburg Pincus were all interested in taking control of UK discount retailer Matalan, but founder and majority shareholder John Hargreaves decided that the bids were not high enough. The retailer might look into other options, but an initial public offering is seen as unlikely because of Hargreaves' tumultuous history with non-executive directors and investors.

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