Former Co-op supermarkets chief Jo Whitfield is the frontrunner to become the next boss of Matalan after the homewares chain's takeover by a group of its lenders
Jo Whitfield, the former Co-op supermarkets chief, is the frontrunner to become the next boss of Matalan after the homewares chain's takeover by a group of its lenders.
Sky News has learnt that Ms Whitfield, who left the mutual last year after missing out on the top Co-op Group job, is in detailed talks with Matalan's new owners about becoming its next chief executive.Appointing her would represent something of a corporate and personal homecoming for Ms Whitfield, who hails from St Helens, which is just 11 miles from Matalan's Skelmersdale head office.
A group of institutional investors including Invesco, Man GLG and Tresidor agreed to sanction a £257m debt-for-equity swap and inject up to £100m of new capital into the business.
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