Matalan looks to future with hires

MATALAn has hired the former bosses of Lidl and the Co-op in a bid to improve its fortunes.

Karl-Heinz Holland and Jo Whitfield were announced yesterday as the chairman and chief executive of the retailer, which has 230 UK stores.

Holland was boss at budget grocer Lidl for six years before becoming chairman of discount fashion retailer Takko. Whitfield spent five years as Co-op Food’s boss.

Matalan is on a turnaround journey after a recapitalisation saw founder John Hargreaves relinquish control earlier this year. Michael Phelps, partner at key investor Tresidor Investment Management, said the pair ‘have a proven track record of making positive impacts in value retail’.