Rich List 2012: No.15 - Tony Wilkinson and Family (£460m)
Tony Wilkinson’s discount Wilkinson Hardware stores doubled their profits in 2009-10 to £64.9 million, despite tough times on the High Street. Things took a £4 million dip in 2010-11 but the outlook is still healthy as shoppers continue to look for bargains.
Tony Wilkinson blamed rising commodity prices and poor exchange rates for the drop. The company addressed the position with cost cutting, including the loss of more than 300 jobs.
Turnover remained steady at £1.55 billion reflecting a recovery from the dark days of the depths of the recession.
The Nottingham-based firm continues to have a strong balance sheet and has eliminated past debts. It also has an ambitious store opening plan, with an increasing presence in Scotland.
Tony Wilkinson’s father opened his first store in Leicester in 1930. Now 80 years later Wilkinson has more than 350 stores around the country and continues to expand. Recent store openings include Great Malvern, Altrincham, Tooting, Norwich, Wythenshawe and Alnwick.