Matalan planning new stores


Matalan is planning to expand its commercial property holdings after a successful pilot of a new store format.

The retailer said that its trial of 24 stores in a new format had been instrumental in delivering a strong sales performance.

Having been taken over in a private buyout last year, the firm is now in a position to expand and chief executive Alistair McGeorge.

"We have invested significantly in our stores and we plan to accelerate our store investment programme in the new year," he told the Daily Telegraph.

The details emerged as Matalan filed annual accounts at Companies House, with the figures suggesting profits had improved in the first two months as a private company in comparison to the same period last year, despite total turnover dipping.

A big hit with shoppers since its inception, Matalan owns a substantial amount of business property, opening its 200th store in Croydon in September 2006.