The sale of Matalan has been pulled after potential buyers failed to meet founder John Hargreaves’ price hopes for the value retailer.
A spokesman for the retailer confirmed today that Matalan has closed down the potential sale process.
It is understood that the retailer received a number of approaches for the business but that potential investors balked at the £1.5bn price-tag.
Private equity houses TPG, Advent International and Warburg Pincus have been linked to the sale.
A source close to the retailer said that the Matalan board and advisor PricewaterhouseCoopers investigated the offers but that they failed to meet a “significant attractive offer” for Matalan.
Hargreaves reportedly set a £1.2bn to £1.25bn break price for the deal for the 205-store chain.