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Retailer Matalan Asks to Loosen Covenants, Sunday Times Says

Matalan Ltd., 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.

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