MATALAN RETAIL LTD.
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Cash
£76m
-11.1% lowest in 3 filed years
Net assets
-£67m
-94.2% lowest in 3 filed years
Employees
9,593
-6.7% lowest in 3 filed years
Profit before tax
-£36m
+20% highest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Negative shareholders' funds
Net assets
3-year trend · vs Consumer Discretionary median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2026-02-28
| Metric | Trend | 2024-02-24 | 2025-02-22 | 2026-02-28 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £1,081,000,000 | £984,600,000 | £986,500,000 | +0.2% | |
| Operating profit | £29,700,000 | £30,500,000 | £47,400,000 | +55.4% | |
| Profit before tax | -£48,200,000 | -£45,400,000 | -£36,300,000 | +20% | |
| Net profit | -£36,700,000 | -£39,500,000 | -£28,200,000 | +28.6% | |
| Cash | £122,600,000 | £85,900,000 | £76,400,000 | -11.1% | |
| Total assets less current liabilities | £321,500,000 | £246,100,000 | £197,300,000 | -19.8% | |
| Net assets | -£2,800,000 | -£34,300,000 | -£66,600,000 | -94.2% | |
| Equity | -£2,800,000 | -£34,300,000 | -£66,600,000 | -94.2% | |
| Average employees | 10,461 | 10,277 | 9,593 | -6.7% | |
| Wages | £147,300,000 | £164,400,000 | £168,600,000 | +2.6% | |
| Directors' remuneration | £3,000,000 | £2,300,000 | £1,900,000 | -17.4% | |
| Directors' pension contributions | £38,000 | £3,000 | £300 | -90% | |
| Highest paid director | £1,300,000 | £800,000 | £900,000 | +12.5% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-02-24 | 2025-02-22 | 2026-02-28 |
|---|---|---|---|---|
| Operating margin | 2.7% | 3.1% | 4.8% | |
| Net margin | -3.4% | -4.0% | -2.9% | |
| Return on capital employed | 9.2% | 12.4% | 24.0% | |
| Gearing (liabilities / total assets) | 100.3% | 104.3% | 109.0% | |
| Current ratio | 0.69x | 0.66x | 0.57x | |
| Interest cover | 0.38x | 0.40x | 0.57x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 3 times since incorporation
- MATALAN RETAIL LTD. 1998-03-03 → present
- MATALAN DISCOUNT CLUB (CASH & CARRY) LTD. 1992-12-10 → 1998-03-03
- MATALAN (CASH & CARRY) LIMITED 1988-08-12 → 1992-12-10
- MATALAN (SALFORD) LIMITED 1987-02-25 → 1988-08-12
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- Forvis Mazars LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Taking all of the above matters into account, the directors believe it is reasonable to anticipate that the Group's capital structure and liquidity is sufficient to allow Matalan Retail Limited to meet its requirements over the next 12 months and have therefore concluded that it remains appropriate to adopt the going concern basis in the preparation of these financial statements.”
Significant events
- “In December 2022, Maryland Holdco Limited, was incorporated in order to effect the acquisition of Matalan Finance plc and its subsidiary undertakings, by an ad-hoc group of bondholders, headed up by the Group's four largest note holders. This acquisition was completed on 26 January 2023.”
- “Exceptional finance costs of £1.1m were incurred in the 53 weeks ended 28 February 2026 (2025: £nil) representing the professional & transactional fees payable in relation to the £25.0m Super Senior loan note issuance in April 2025.”
- “In March 2026, we re-platformed our website to THG Altitude, a faster, more secure and easier to use web platform.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 33 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| LODDER, William George | Secretary | 2013-04-25 | — | — |
| DOWN, Keith William | Director | 2024-11-01 | Jan 1965 | British |
| HOLLAND, Karl-Heinz | Director | 2023-03-27 | May 1967 | German |
| NORDVALL, Hans Henrik | Director | 2026-02-09 | Jul 1982 | Swedish |
| PEE, Jeremy | Director | 2023-11-13 | Dec 1976 | Canadian |
| WILLIAMS, David Robert | Director | 2024-02-27 | May 1966 | British |
Show 33 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BERRY, John Graham | Secretary | 2001-12-12 | 2005-04-01 |
| BROADHURST, Toby Benjamin | Secretary | 2006-11-01 | 2007-01-31 |
| CUNNINGHAM, Thomas | Secretary | — | 1993-03-09 |
| DUTTON, Philip | Secretary | 2005-04-01 | 2005-06-27 |
| GILBERT, Paul John Thomas | Secretary | 2007-02-01 | 2013-04-16 |
| SMITH, Ian Ashley | Secretary | — | 2001-12-12 |
| WAITE, Simon Nicholas | Secretary | 2005-06-27 | 2006-10-31 |
| BLACKHURST, Darren Anthony | Director | 2011-05-26 | 2013-09-13 |
| BROWN, James Raymond | Director | 2020-09-14 | 2022-11-25 |
| CLARKE, Andrew James | Director | 2002-06-26 | 2003-03-17 |
| COPLEY, Paul David | Director | 2022-09-23 | 2024-10-31 |
| DAVIES, Danielle Hazel | Director | 2010-03-26 | 2010-04-06 |
| DUTTON, Philip | Director | 2002-09-02 | 2007-01-09 |
| GILBERT, Paul John Thomas | Director | 2007-02-01 | 2013-04-16 |
| HARGREAVES, Anne Marie | Director | — | 1998-03-13 |
| HARGREAVES, John | Director | 2022-08-24 | 2022-09-25 |
| HARGREAVES, John Jason | Director | 2014-01-08 | 2020-09-14 |
| HARGREAVES, John | Director | — | 2007-11-01 |
| HILL, Stephen Mark | Director | 2013-07-29 | 2024-02-27 |
| ISAACS, Timothy Keith | Director | 2022-09-01 | 2023-01-26 |
| JOHNSON, Stephen Richard | Director | 2020-07-15 | 2022-07-26 |
| KING, John | Director | 2003-03-17 | 2006-11-30 |
| LEIGHTON, Allan Leslie | Director | 2013-02-05 | 2018-04-30 |
| MALLON, Donald William Christopher | Director | 2022-09-01 | 2023-03-28 |
| MASON, Paul | Director | 2002-01-07 | 2003-03-17 |
| MCGEORGE, Alistair Kenneth | Director | 2007-01-11 | 2010-11-01 |
| MILLS, John Nicholas | Director | 2007-01-02 | 2020-07-31 |
| MISRA, Arnu Kumar | Director | 2014-03-07 | 2015-10-09 |
| MONRO, Angus | Director | 1998-03-13 | 2001-04-30 |
| ODDY, Nigel Graham | Director | 2022-10-06 | 2023-03-27 |
| PATERAS, Gregory Vincent | Director | 2017-08-07 | 2020-07-31 |
| SMITH, Ian Ashley | Director | 1998-03-13 | 2002-11-30 |
| WHITFIELD, Joanne Louise | Director | 2023-03-28 | 2024-10-07 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Matalan Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2016-04-14 | Active |
Filing timeline
Last 20 of 219 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-10 | AA | accounts | Accounts with accounts type full | |
| 2026-08-03 | TM01 | officers | Termination director company with name termination date | |
| 2026-08-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-06-17 | MR05 | mortgage | Mortgage charge part release with charge number | |
| 2026-06-17 | MR05 | mortgage | Mortgage charge part release with charge number | |
| 2026-03-31 | MR05 | mortgage | Mortgage charge part release with charge number | |
| 2026-03-31 | MR05 | mortgage | Mortgage charge part release with charge number | |
| 2026-02-13 | AP01 | officers | Appoint person director company with name date | |
| 2025-09-29 | MR05 | mortgage | Mortgage charge part release with charge number | |
| 2025-09-29 | MR05 | mortgage | Mortgage charge part release with charge number | |
| 2025-08-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-08-13 | AA | accounts | Accounts with accounts type full | |
| 2025-04-28 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-12-20 | MR05 | mortgage | Mortgage charge part release with charge number | |
| 2024-11-28 | AA | accounts | Accounts with accounts type full | |
| 2024-11-12 | AP01 | officers | Appoint person director company with name date | |
| 2024-11-07 | TM01 | officers | Termination director company with name termination date | |
| 2024-10-14 | TM01 | officers | Termination director company with name termination date | |
| 2024-08-01 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-03-04 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 8
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.