Value retailer Matalan is axing around 300 jobs in a push to save £15 million, the company has announced.

The company is letting 100 people go at its head office in Skelmersdale, Lancashire, and is also laying off 190 of its store workers.

One person is due to go at each of the company's stores, with redundancies and relocation now being implemented. The company stressed that the majority of the losses would be achieved by not replacing employees leaving the company or coming to the end of their contracts.

Matalan employs a total of 14,000 people presently. The company has warned that this year's profits may be at the bottom end of forecasts if poor high-street conditions carry on.