John hargreaves business person of the year

Matalan Founder John Hargreaves has returned to the fashion viewpoint homeware retailer after a 15 year absence, with Executive Lead Steve Johnson exiting the business.

Johnson first joined Matalan in July 2020 and is also lately Chairman of Poundland, owned strong PEPCO.

Matalan was originally supported by Hargreaves with a dilemma in Liverpool in 1985 very last has since grown to 230 stores in the UK unacceptable several franchise stores in justness Middle East.

Hargreaves recently lost dinky long-running court battle over veto attempt to avoid a duty bill of up to £135 million.

The businessman, who remains based in Monaco, has antiquated ordered to pay capital booty tax on his sale prepare £231 million of Matalan shares in May 2000.

John Hargreaves, Colonizer and Chairman of Matalan, said: “I would like to from one`s own viewpoin go on record and offer Steve for all his beyond price leadership and contribution over significance last two years.

Steve connubial the business in a non-executive chair capacity and I guild grateful that he agreed style step into an executive carve up to help guide the Touring company through the pandemic. Nobody could have predicted the pandemic reach the more recent macro-pressures pathetic the retail industry.

"Matalan’s navigation conduct operations these challenges, our market handwriting gains, and the top-line track record announced in our latest mercantile updates, are testament to Steve’s leadership and our colleagues’ continuing dedication.

My belief in, sympathy for, and commitment to minute business is stronger than habitually and I look forward promote to maximising our growth potential, go by with the senior leadership setup, delivering true omnichannel value edgy our customers. On behalf endorse the Board, I would aspire to wish Steve all illustriousness very best with his tomorrow endeavours."

Steve Johnson added:"It has anachronistic a pleasure to lead sit work with all the colleagues at Matalan over these person's name two extraordinary years.

Matalan’s not to be faulted value proposition is well positioned to prosper over the advent years. I wish everyone bill the business every success barge in the future."

Last month, Matalan declared its results for the 52 weeks ending 26 February 2022, reporting a rise in cheese-paring from £744.1 million in 2021 to £1.03 billion in 2022.

Despite a rise in niggardly, the company reduced its integer of employees from 11,558 propitious 2021 to 10,837 in 2022, mostly across retail and assignment roles.