British clothing and homeware retailer Matalan has committed more than £25 million ($33 million) to expand its stores in the UK, a move in line with its ongoing business transformation strategy.
Matalan plans to refurbish 30 existing stores by 2025. Source: Starsphinx/Shutterstock.
Matalan's investment in its UK stores comes after the retailer secured a further £25m in funding from investors in April this year to accelerate its multi-year transformation.
By 2025, Matalan will refurbish 30 existing stores and open 10 new or relocate existing stores, increasing its presence in strategic areas such as London, Essex, Hampshire and Northern Ireland.
This initiative represents the initial stage of a comprehensive plan aimed at renewing Matalan's entire store portfolio over a period of three to five years.