Retailer Matalan Asks to Loosen Covenants, Sunday Times Says

Matalan Ltd. (MTN), a U.K. clothing retailer, asked for a relaxation of covenants on its debt, the Sunday Times reported, citing a conference call with the company’s bondholders.

Matalan’s annual profit is likely to be between 90 million pounds ($140 million) and 95 million pounds, less than the company forecast, the newspaper said, citing the call. No one from Matalan was available to comment when called by Bloomberg News.

To contact the reporter on this story: Maria Ermakova in London at mermakova@bloomberg.net

To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net

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