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.

 

 

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