The founder of Matalan, John Hargreaves, is all set to reward himself with a £250m special dividend after finishing up with the refinancing of the business.

Matalan, founder, John Hargreaves has planned to compensate himself with a hefty amount of £250m dividend out of the total amount of £525m decided as the refinance amount to be funded by the banks and investors. John is in continuous talks with the banks and financiers to fund the 200 store chain to settle Matalan's debt of approximately £260m.