Bill Adderley Explained

Bill Adderley
Birth Name:William Adderley
Birth Place:Leeds, Yorkshire, England
Known For:Founder of the Dunelm Group home furnishings retailer
Occupation:Businessman
Spouse:Jean Adderley
Children:2

William "Bill" Adderley (born February 1948) is a British businessman and founder of the FTSE 250-listed Dunelm Group home furnishings retailer.

Early life

Adderley was born on a council estate in February 1948[1] in Leeds, Yorkshire.[2] Adderley left school at 16, with a basic education level. He was a boyhood fan of Leeds United.

Career

Adderley was a manager at a Woolworths store[3] in Coalville, but left in 1979 after the company wanted him to relocate to its Skegness store.[2]

In 1979, while looking for a new job, Adderley and his wife, Jean, sold curtains which had been rejected by Marks and Spencer from a stall on Leicester market. In 1984, they opened their first home furnishings store, calling it Dunelm Mill.[4] [2] He retired from Dunelm at the age of 58 in 2006 and left the growth of the company in the hands of his son, Sir William (“Will”) Adderley, and it was at this time the company floated.

In October 2013, The Guardian commented that Adderley had become the largest private shareholder in Marks & Spencer, having built a stake valued at £250 million.[5]

Adderley sold most of his stake in Marks & Spencer and bought a stake in Morrisons in 2017.[6] [7]

Currently, Dunelm operates in 180 stores across the UK and runs an ecommerce business.[8] The Adderley family still owns approximately 43% of the shares.

Wealth

In 2022, the Sunday Times Rich List estimated his net worth at £1.78 billion.[9]

Personal life

He and his wife Jean have two children:[8] Will is a director and deputy chairman of Dunelm Group plc,[10] [11] while Jonathan, is not actively involved in the business.[12]

Notes and References

  1. Web site: Dunelm Group plc. Companies House. 10 August 2015.
  2. News: Griffin . I . Dunelm's founding family sees wealth soar by £100m . 31 December 2014 . Leicester Mercury . 12 May 2014 . https://web.archive.org/web/20141231133617/http://www.leicestermercury.co.uk/Dunelm-s-founding-family-sees-wealth-soar-100m/story-21085564-detail/story.html . 31 December 2014 . dead.
  3. News: Goodley. Simon. Bill Adderley unmasked as Marks & Spencer's biggest private shareholder. 31 December 2014. The Guardian. 31 October 2013.
  4. Web site: Bill Adderley. Forbes. 31 December 2014.
  5. Web site: 2013-10-31. Bill Adderley unmasked as Marks & Spencer's biggest private shareholder. 2021-09-10. The Guardian. en.
  6. Web site: Dunelm founder sells majority of stake in M&S. Kasmira. Jefford. 1 June 2015. cityam.com. 8 August 2017.
  7. Web site: Homeware stores tycoon 'takes stake in Morrisons'. www.yorkshirepost.co.uk. 8 August 2017.
  8. Web site: Forbes profile: Bill and Jean Adderley & family . Forbes . 15 July 2021.
  9. News: Dunelm owners lose £9 million as Sunday Times Rich List reveals top spot for Leicestershire . Mack . Tom . Leicester Mercury . 20 May 2022 . 14 January 2023.
  10. Web site: Dunelm Group plc. Companies House. 10 August 2015.
  11. News: Nazir. Sahar. Dunelm deputy chair Will Adderley to sell £210m stake. 22 June 2022. Retail Gazette. 16 February 2021.
  12. News: Gray. Charles. How Leeds born Bill Adderley went from living on a council estate to becoming one of the richest people in the country. 22 June 2022. Leeds Live. 24 May 2021.