History
Iceland began business in 1970, when Malcolm Walker opened the first store in Oswestry, Shropshire with his business partner Peter Hinchcliffe investing £60 for one month's rent at their Shropshire store. They were still employees of Woolworths at the time, and their employment was terminated once their employer discovered their job on the side. Iceland initially specialised in loose frozen food.
By 1975, there were 15+ Iceland outlets in North Wales, with the first supermarket-style outlet opening in Manchester a couple of years later. The firm's head office moved to Deeside, Flintshire in 1979. Iceland was floated on the London Stock Exchange in 1984, by which stage it had 81 outlets.
In 1989 Iceland bought its competitor Bejam which was some three times larger in terms of business. By February 2004, the combined chain had 760 stores throughout the United Kingdom.
Iceland operates in the Republic of Ireland through a franchisee, AIM Group, which has announced plans to have 40 stores operating in Ireland by 2014. There are currently 9 stores in Ireland.
Read more about this topic: Iceland (supermarket)
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