Secret millionaire’s wish to have one of his stores in Peterborough

Mike Greene, chief executive of My Local.
Mike Greene, chief executive of My Local.
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Peterborough’s Secret Millionaire Mike Greene has told an audience of business leaders that he would love to open one of his My Local convenience stores in the city.

Retail entrepreneur Mr Greene, who bought 140 M stores from Morrisons in a £25 million deal backed by investment company Greybull Capital LLP eight months ago, said: “I would love to have a store in Peterborough.

Roythornes food sector business breakfast in Peterborough.

Roythornes food sector business breakfast in Peterborough.

“But it has to be the right store. So maybe.

“But I am not going to engage in an ego chase just to acquire large numbers of stores.”

His comments come as it is understood that talks are in progress to sell a handful of My Local stores to other operators, which could include the Co-operative Group and Sainsbury’s in a bid to make the most of the network.

My Local stores can be found across the country from Edinburgh to Torquay but there are none in Peterborough.

It has to be the right store. So maybe.

Mike Greene, My Local owner

Mr Greene, of Crowland, was addressing business people at a food business breakfast at the Kingsgate Conference Centre, in Parnwell organised by Roythornes solicitors.

During his 30 minute talk, Mr Greene, who featured in Channel 4’s Secret Millionaire programme in 2011, outlined the five ingredients that make up a strategy for retail succcess.

These are fresh produce, full shelves, fair price, fast service and friendly staff.

He said: “It is a strategy that can be taught to anyone in just five minutes.

“Some businesses have strategies written into huge volumes that just sit on a shelf but these streategies will always be changed.

“It is not a real strategy if it can’t be explained in just one minute.

He added: “Retail is not rocket science but it is necessary to take a fresh look at a business.”

Mr Greene was not able to comment on reports that some My Local stores might be sold.

Related:

Peterborough’s ‘secret millionaire’ reveals passing comment that sparked Morrisons’ sale