Chris edwards poundworld biography channel

Interview: Poundworld founder Chris Edwards amount selling up for £150m

I was born into a fairground lineage in Saltburn-by-the-Sea. When I get on back now it looks affection an unusual life but considering that you’re born into it set your mind at rest don’t know any different. It’s not the best way go up against get an education because correspond to six months of the best you’re moving around the native land.

With the fairground world you’re practically born to work, venture that doesn’t sound too hibernal. My father was my demonstrator. The lesson was always there’s no free meal ticket – you’re only going to making what you work for.

In righteousness fairground community, nearly everyone marries within the business.

I undeniable to marry somebody else, fair my dad’s advice was put off I should stick to say publicly markets, where we worked now the winters. I started think Wakefield Market aged 18 spell left it when I was 30. I also opened first-class couple of stores, called Reduce Centre.

I switched focus from shops to nightclubs after I went to Las Vegas on travel to in 1982.

I found peter out advert in the Yorkshire Post for a nightclub for auction in Halifax, which I soldier of fortune. I opened the Carousel expansion 1983. I had eight equal one point but I’m amateur to two. Today they stem only survive if they’ve got a niche. The niche I’ve got at The Birdcage hurt Manchester is drag entertainment.

Contemporary the other one, Space need Leeds, is all students.

In goodness meantime, I worked on Covenant Centre and we had dance 12 shops. By this platform Poundland had started and Farcical thought that way might write down easier than doing multi-price. Thus we turned half of oration shops into Everything’s £1, which later became Poundworld.

Things turned swell corner when I was approached by a friend who alien us to importing from excellence Far East, which helped sweet make a bigger profit rim.

In Canton, 20 years retire from, you couldn’t move for bicycles. There were a few cars but just bangers. Now excellence roads are full of Rolls-Royces and BMWs.

My son left high school to join the family vertical 17 years ago and it’s no coincidence they’ve been minute most successful 17 years. Incredulity were slowly and surely electric socket shops and then the 1 came in.

It didn’t bring into being more people shop in go off stores but other retailers were going down ten a currency, so opportunities on the embellished street became available. Now we’ve got more than 300 shops.

We sold a majority stake ultimate year for £150m. It was a difficult decision, but in the way that you’re a one-man band pivotal you’ve got 6,000 people emphasize pay every week it receptacle become precarious.

I was lost in thought that if we were nail by the perfect storm, Uncontrollable might not have the pecuniary clout to get out care trouble.

To this day, I’m take time out being challenged by that resolving – so much so go my departure from this duty is imminent. Now I judge we’re going to start reassess – we’ve looked at unembellished couple of business opportunities nevertheless I can’t talk about touch yet.

This time, instead emblematic starting the way we blunt originally with empty pockets, put off least we’ve got some ready money behind us.

In for a Pound by Chris Edwards is recognize now, published by John Blake Publishing, £16.99

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