Elliott in talks to back Matalan founder’s bid for discount retailer

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Elliott in talks to back Matalan founder’s bid for discount retailer
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The feared investor which owns Waterstones is plotting to back the founder of Matalan in his efforts to wrest back control of the discount retailer

UK economy latest news: Mortgage rates rise again, the pound is wobbling - and Britons are turning to air fryers to save money this winterIt also operates an e-commerce platform and has more than 50 overseas franchise stores. The company claims to have 11 million customers.It was unclear this weekend what valuation any sale process would achieve against the current economic backdrop.Mike Ashley, the Frasers Group tycoon, is also reported to be preparing an offer for Matalan.

In recent months, global inflationary pressures have impaired margins, while supply chain challenges have had an impact on stock availability.

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