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John Hargreaves' hopes of selling the Matalan discount fashion chain he founded for above
£1.5bn look set to be dashed as bidders balk at his "frothy" price expectations.
Friday's final bid deadline will see US buy-out house TPG, Advent and possibly Warburg Pincus make offers.
But the cheques being written out to snag the 205 stores are all thought to be below the reported £1.5bn price, reported the Telegraph, leaving insiders worried the process might derail. Hargreaves is understood to have set a £1.2bn-£1.25bn break price for the deal – under which he could refuse to sell.
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