Matalan secures debt extensions following investment

The value fashion retailer said today (26 June) that investors Invesco, Tresidor, Man Group and Napier Park have agreed to extend the maturity dates across its debt facilities by around 16 to 17 months on average.

Under the revised terms, its super senior notes, including its additional notes, will mature on 1 April 2029, instead of 1 December 2027. Its priority notes have been extended from 31 December 2027 to 30 April 2029, while its senior notes will now mature on 26 May 2029, replacing the previous 26 January 2028 deadline.

The refinancing follows a strong year of trading for Matalan. For the 53 weeks ended 28 February 2026, the retailer reported a 24% increase in adjusted pre-IFRS16 EBITDA to £69m, alongside continued gains in market share.

The move also builds on the additional £25m funding secured last year, which has supported Matalan’s ongoing investment programme.

The retailer said refurbished stores outperformed the wider estate by 12% during fiscal 2026, with further investment focused on opening new stores, developing its unified commerce capabilities, improving its supply chain and upgrading technology to support long-term growth.

Dave Williams, chief financial officer at Matalan, said: “The continued support of our anchor investors reflects their confidence in Matalan and our strategy. The extension to our debt facilities provides us with further flexibility to continue to invest as we drive sustainable profitable growth and build on the positive momentum we have created.”