The basicsCompany name: Firesource
What they do: Budget retailing
The Boss: Brothers Simon and Bobby Arora
The financialsLatest turnover (£,000): 712,572
Four-year compound sales growth (%): 41
Latest Ebitda (£,000): 59,289
The detailsIt is no secret that budget retail has done well out of the economic crisis, and Firesource is no different. More than two million customers shop at the company’s B&M stores every week, looking for a bargain on branded products. Founded in 1978, B&M was acquired by brothers Simon and Bobby Arora in 2005 from private equity group Phildrew Ventures. At the time, the chain had 21 stores; today B&M has grown to more than 330 stores and employs 10,000 staff. The company occupies more than 1 million sq feet of warehousing, which enables it to buy in bulk B&M’s modus operandi is to buy up clearance sales from manufacturers. When a brand over-produces, B&M’s purchase managers pounce on the surplus stock – about a third of B&M’s stock is acquired this way. Sales have tripled to £712.6m in four years, with pre-tax profits of £59.3m.
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