John Hargreaves (businessman)
| John Hargreaves | |
|---|---|
| Born | Liverpool, England |
| Nationality | British |
| Known for | Founder and chairman of Matalan |
| Net worth | GBP £1.0 billion (April 2015)[1] |
| Children | 3 |
John Hargreaves is a British businessman, the founder and chairman of the UK out-of-town discount clothing and homeware chain Matalan. He went into the retail business when he was only 16, and opened the first Matalan store in Preston in 1985. Matalan now has 200 stores throughout the UK, employs over 16,000 people, and is one of the most successful retailers in the country. In April 2015, the Sunday Times estimated his net worth at £1.0 billion[1]
Hargreaves has three children, Jason, Jamie, and Maxine; and three grandchildren.
Hargreaves currently resides in Monaco with his partner. This alleged non-residence in the UK has enabled him to claim that he is not liable to Capital Gains Tax on a gain of £200 million arising on the disposal of Matalan shares. This claim is being resisted by Her Majesty's Revenue and Customs and the matter is subject to litigation.[2]
John Hargreaves resigned as Chairman of Matalan on 18 November 2007, less than a year after taking the company private.[3] His resignation marked the end of a 22 year era for Matalan.
Hargreaves purchased British womenswear retailer Fenn Wright Manson for an undisclosed sum on 28 March 2012.
References
- Walsh, Fiona (11 October 2006). "From market trader to chairman of the board". The Guardian. Retrieved 2009-10-27.
- Judge, Elizabeth (26 October 2009). "Business big shot: John Hargreaves". The Times. Retrieved 2009-10-27.
- ↑ 1.0 1.1 "Sunday Times Rich List". The Sunday Times (page 34). 26 April 2014.
- ↑ Report of Tax Tribunal decision
- ↑ Weston, Alan (19 November 2007). "Man who founded Matalan resigns". Liverpool Daily Post. Retrieved 2009-10-27.