The son of the founder of Dunelm today took over running the cheap furnishings chain after chief executive Nick Wharton shocked the market by quitting after four years in charge.
Bill and Jean Adderley launched Dunelm as a stall making cheap, ready-made curtains three decades ago.
Now their son Will — who was executive deputy chairman — has returned to run the 136-shop business, which also today said full-year, pre-tax profit rose 7.3% to £116 million thanks to the popularity of new stores. The dividend was also hiked, up 25% to 20p.
But those figures, said analyst Mark Brumby of Langton Capital, were “overshadowed” by Wharton’s shock resignation.
The Adderley family still own a 54% stake in Dunelm, meaning they pocket just over £20 million from the latest dividend.
Dunelm opened 12 new stores in the year, closed two super-stores and two High Street shops, and said it has signed contracts on another 11 superstore sites.
