John Hargreaves (businessman)

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John Hargreaves
BornJanuary 1944 (age 75)
ResidenceMonaco
NationalityBritish
Known forFounder, Matalan
Net worthGBP £1.0 billion (April 2015)[1]
Children3

John Hargreaves (born January 1944)[2] is a British businessman, the founder and chairman of the UK out-of-town discount clothing and homeware chain Matalan.

Career[edit]

John Hargreaves was born in 1944 in Everton, the son of a docks labourer, one of eight children who all shared one bedroom in a Liverpool terrace house.[3]

Hargreaves left school at 14, went into the retail business when he was 16, and opened the first Matalan store in Preston in 1985.[3] Matalan has 200 stores in the UK, and employs over 16,000 people.[citation needed] He resigned as chairman of Matalan on 18 November 2007, less than a year after taking the company private.[4] His daughter Maxine purchased British womenswear retailer Fenn Wright Manson for an undisclosed sum on 28 March 2012.[citation needed]

In April 2015, the Sunday Times estimated his net worth at £1.0 billion.[1]

Personal life[edit]

Hargreaves married aged 19, and has three children, Jason, Jamey, and Maxine.[3]

Hargreaves resides in Monaco with his wife. 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.[5]

References[edit]

  1. ^ a b "Sunday Times Rich List". The Sunday Times (page 34). 26 April 2014.
  2. ^ "John HARGREAVES - Personal Appointments (free information from Companies House)". Beta.companieshouse.gov.uk. Retrieved 19 May 2016.
  3. ^ a b c Hounslea, Tara (26 November 2015). "The Drapers Interview: The man behind Matalan | The Drapers Interview". Drapersonline.com. Retrieved 19 May 2016.
  4. ^ Weston, Alan (19 November 2007). "Man who founded Matalan resigns". Liverpool Daily Post. Retrieved 27 October 2009.
  5. ^ "John Hargreaves and The Commissioners for Her Majesty's Revenue and Customs" (PDF). Tribunals.gov.uk. Retrieved 19 May 2016.

Further reading[edit]