£1m payday for Home Bargains boss

Liverpool discount retailer Home Bargains saw sales and profits soar last year, resulting in a £1m pay day for founder Tom Morris, it is believed.

The chain, which numbers almost 500 stores, stocking up to 4,000 branded product lines, employs more than 17,000 staff.

Trading as TJ Morris it was founded as a market stall in 1976 in Liverpool by Mr Morris.

The latest annual figures filed at Companies House show that sales grew by 14% to £2.1bn, and profits rose 20% to £203m.

Ultimately, the firm plans to expand to operate up to 1,000 stores.

Mr Morris still owns more than three quarters of Home Bargains’ parent company.

The figures for the latest financial year show that the highest paid director, believed to be Tom Morris, received £1m.

He runs the business with his younger brother, Joe.

His family’s wealth was estimated to be £3.5bn in a recent rich list.

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