Founder of Yours Clothing in Peterborough enters Sunday Times Rich List
The founder of Peterborough-based Yours Clothing has made his first appearance in the Sunday Times Rich List.
Andrew Killingsworth (58) has been ranked in 976th position with his wealth, according to the Sunday Times, totalling £122 million.
His inclusion in the prestigious annual of the wealthiest people in Britain comes after his plus size fashion business showed assets of £19.8 million in 2018/2019.
The Sunday Times says that over the same period his business posted profits of £13.6 million on £105.9 million of sales, making it worth £120 million.
It is a real rags to riches story for Mr Killingsworth who began his business by selling garments on a market stall in Leighton Buzzard.
Now the fashion retailer, who was named Business Person of the Year at the 2016 Peterborough Telegrapth Business Awards in 2016, employs 1,200 staff and the business recently moved into £4 million new premises in Bakewell Road, Orton Southgate.
Ahead of the outbreak of the coronavirus pandemic, Yours Clothing had reported that its growth had been driven by a focus on improved quality, more relevant seasonal products and better buying techniques.
It said sales at its stores, including its men’s chain, BadRhino, rose by 20 per cent over the year while online sales increased by nearly as much at 18 per cent.
During the 12 months, the company opened 26 new stores and has also established a presence in Dublin and launched three stores in northern Germany.
The outbreak of Covid-19 though has changed the trading environment for Yours Clothing forcing it to shut its stores and to furlough some staff.
It is familiar tale for many of the wealthy individuals and families who feature in this year’s Rich List with the total wealth shared by all 1,000 entries dropping because of the pandemic by 3.7 per cent to £742.6 billion.