PRIVATE equity firms are circling Lancashire discount retailer Matalan which could see the group bought in a £1.5bn deal.

The chain has reportedly hired PricewaterhouseCoopers to advise on a possible sale as CVC Capital Partners has emerged as one of the potential bidders.

According to reports, Matalan’s chief executive Alistair McGeorge is understood to have met a number of interested parties, although no bid has been tabled and talks are at a very early stage.

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