Homewares chain approached by private equity firm CVC Capital Partners in takeover bid.
Matalan is believed to have been contacted by several parties interested in acquiring the business, including a takeover bid from private equity group CVC Capital Partners.

The news follows reports that accountancy firm Pricewaterhouse Coopers is advising the retailer on a potential £1.5bn sale.

Matalan, which was taken private by founder John Hargreaves three years ago, recently announced a recruitment drive with plans to take on 1,800 new members of staff.