Matalan non-execs turn up heat on Hargreaves

The non-executive directors of discount fashion chain Matalan have asked the Takeover Panel to issue a "put up or shut up" warning to the group's chairman, John Hargreaves, to force him to make it clear if he intends to bid for the company. Mr Hargreaves has said he is considering making a bid. He is understood to have lined up a former Littlewoods executive as chief executive and yesterday hired his own PR advisers. A company spokesman said: "Everyone, including the board, wants to see some sort of conclusion in the best interest of all shareholders within a reasonable time frame".