John Hargreaves, chairman of Matalan, is preparing a bid to take the discount clothing chain he founded two decades ago private after a boardroom split.
Matalan said yesterday that “the chairman of the board has indicated that he is working on a possible offer for the company”.
The disclosure follows months of wrangling between the chairman who with his family controls 53% of the company and non-executives.
References: Financial Times 01/07/06 page 19, Daily Telegraph 01/07/06 page 29, The Times Business 01/07/06 page 48, The Independent 01/07/06 page 46
