Iceland

Tel: 01454 327127

Description

1970 Iceland sprang to life when Malcolm Walker and another bored, young retailer decided to open a shop in an attempt to make their fortunes.  They raised initial capital of just £60 to pay one month’s rent and opened the very first Iceland in Oswestry, Shropshire in November 1970.  In those days, before domestic fridges and freezers became commonplace, Iceland specialised in selling loose frozen food.

1975 The business really took off when Woolworths fired the founders from their day jobs in February 1971, and they were able to devote themselves to developing the Iceland concept full-time.  By 1975 there were 15 Iceland stores in North Wales and the North West, supported by a cold store in Rhyl. 

1979 Iceland progressively evolved away from loose frozen food, opening its first purpose-built freezer centre at Stretford, Manchester, in 1978, and developing its own branded products.  In 1979 the company opened a brand new cold store and head office at Deeside, Flintshire, where it has been based ever since, and by 1980 it had grown to 37 stores.

Going Public

1984 Expanding through new store openings and the acquisition of smaller chains, Iceland had 81 stores by 1984, when it became a public company through one of the most successful flotations ever seen on the London Stock Exchange.  The initial public offering of just £8 million worth of shares brought in applications with cheques totalling over £900 million, making it an amazing 113 times oversubscribed.