Ex-Iceland chief launches new store

Walker insists Cool Trader is not competing with Iceland

The founder and former chairman of north Wales-based frozen food chain Iceland has opened a rival store in Wrexham.

Malcolm Walker left the Deeside-based company in January, after more than 25 years in charge.

The first Iceland shop

He has insisted that he is not planning to compete with Iceland but said they had threatened to stop his new Cool Trader chain from expanding.

"It couldn't be more different," Mr Walker said during the shop's opening on Thursday.

"Everything about this store is different. Okay, it's frozen food but that's about all that we've got in common.

"We are not in competition with Iceland."

Malcolm Walker's career in frozen foods began back in 1970 after being sacked as deputy manager of Woolworth's in Wrexham.

He invested £30 in a shop in Oswestry and called it Iceland.

Former council planner Tony Sharps recalls being told of the budding entrepreneur's plans.

"Everything about this store is different. Okay, it's frozen food but that's about all that we've got in common

Malcolm Walker

"The officer in charge used to report to me weekly and I asked who he'd had in that week. He said 'some nutcase who wants to build a factory, fill it with refrigerators and sell frozen food'.

"And that person - or nutcase as he was referred to in those days - turned out to be Malcolm Walker. Some nutcase eh?"

But controversy dogged him at several stages.

He faced criticism when the company made an unpopular move to sell only organic food which did not prove as popular with customers as had been hoped.

Walker's career began with a £30 investment

And in his last months as Iceland chairman he was at the centre of media speculation after selling some of his shares before the price dropped.

The company's poor performance in the second half of last year, culminating in a 5.5% decline in sales at Iceland supermarkets in December, prompted a slump in the firm's share price.

In a resignation statement, he said: "I would like to record my pride in having helped to create a business that has become one of the leading food retailing and e-commerce brands in the UK, providing employment for 30,000 people."

The Department of Trade and Industry is investigating but today Mr Walker said he was "1000% confident" he had acted properly.