John Hargreaves (businessman)
John Hargreaves | |
|---|---|
| Born | Template:Birth year and age Everton, Liverpool, England |
| Occupation | Entrepreneur |
| Years active | 1960s–2007 |
| Known for | Founder and former chairman of Matalan |
John Hargreaves (born January 1944) is a British entrepreneur based in Monaco, recognized as the founder and former chairman of the UK discount retailer Matalan, specializing in clothing and home goods.
Career
Hargreaves was born in January 1944 in Everton as one of eight siblings within a working-class household. Leaving formal education at the age of 14, he embarked on a career in retail by age 16. In 1985, he launched the inaugural Matalan outlet in Preston. Today, Matalan boasts a network exceeding 200 stores across the United Kingdom and a workforce surpassing 16,000 employees. Hargreaves stepped down from his chairman role in November 2007, shortly after completing the company's transition to private ownership. His daughter Maxine purchased the British womenswear brand Fenn Wright Manson in March 2012.
The Sunday Times Rich List for 2025 estimated Hargreaves’ personal wealth at approximately £350 million.
Personal life
Married at 19, Hargreaves is a father to three children: Jason, Jamey, and Maxine. He currently lives in Monaco with his spouse. Declaring non-residency status in the UK starting from March 2000, he contended that no capital gains tax was due on a £231 million profit from selling shares in Matalan during May 2000. This position was challenged by HMRC, resulting in legal proceedings. Eventually, Hargreaves conceded that he was UK resident during the 2000/01 tax year, exposing him to a potential tax obligation of up to £135 million.
Further reading
- From market trader to chairman of the board, Fiona Walsh, The Guardian, 11 October 2006
- Business big shot: John Hargreaves, Elizabeth Judge, The Times, 26 October 2009