Bill Archer
Born
William Ernest Archer
NationalityBritish
OccupationBusinessman

William Ernest Archer is a British businessman.

Career

In 1988 the Focus DIY company was bought by Archer and all stores were re-branded Focus DIY. With the help of private equity the chain grew to 72 stores in the United Kingdom.[1]

By 2002 the chain had grown to over 450 stores following several buyouts including the Wickes DIY chain. Archer and his partners received over £650 million from the sale of Wickes in 2005. When his core Focus business was in financial difficulty, US private equity firm Cerberus Capital Management bought Focus for £1 in June 2007. Cerberus, which also took on debts of £180m, brought in Bill Grimsey, former chief executive of Wickes. "When we came in, staff morale had been wiped out and the shelves had no stock because suppliers thought it was going bust. The business was still selling eight-year-old kitchens because there had been no investment," said Grimsey.[2]

Brighton & Hove Albion F.C.

Archer was also involved in the controversial 1997 sale of the Goldstone Ground in Hove, the then-home of Brighton & Hove Albion F.C., so the land could be used as a retail park. The club had been based there for over ninety years until the board of directors decided to sell the stadium. The sale, implemented by Archer as majority shareholder and his chief executive David Bellotti, provoked widespread protests against the board. The club itself received minimal payment from this sale, and was left without a ground to play in.[3][4] He was also said to have destroyed Brighton and Hove Albion for a period.[5]

References

  1. ↑ "About us". Focus DIY. Retrieved 11 May 2013.
  2. ↑ (subscription required)
  3. ↑ "Club In Crisis – Brighton". Club in Crisis. Archived from the original on 26 September 2011. Retrieved 6 September 2011.
  4. ↑ Lawrence, Amy (25 January 2013). "The dreamers who built 'the miracle' that is Brighton today". The Guardian. London.
  5. ↑ Beesley, Chris (8 May 2023). "Brighton have taught Everton a brutal lesson ahead of vital relegation tussle". Liverpool Echo.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.