Matalan has unveiled plans to open new stores and refurbish shops across the UK as part of a \u00a325m investment into the fashion and homeware chain.<\/p>\n
The value retailer said physical shops remained \u201cat the centre\u201d of its transformation programme.<\/p>\n
It is set to open 10 new and relocated stores this year, expanding in regions including London, Essex, Hampshire, and Northern Ireland.<\/p>\n
The investment will also go towards upgrading 30 existing shops across the country.<\/p>\n
The refurbishments mean customers will see changes such as more defined departments, services like fitting rooms and tills relocated to a single area, and modernised checkout areas in some shops with faster self-service tills.<\/p>\n
Matalan also revealed it would be launching a new app for shopping and loyalty rewards.<\/p>\n
Newly-revamped stores in locations including Croydon, Bristol, and Dumfries have benefited from a stronger-than-expected jump in sales, the company said.<\/p>\n
Matalan has about 265 shops across the UK and overseas.<\/p>\n
It came under new ownership at the start of 2023 after a group of lenders took control from founder John Hargreaves, who set up the company in 1985.<\/p>\n
The group, led by Invesco, Man GLG, Napier Park and Tresidor, took the reins of the fashion business after it had launched a sales process.<\/p>\n
Matalan said it secured \u00a325m from its investors last month which it was using to fund the revamp of its store estate.<\/p>\n