Timpson (retailer)
A Timpsons shop in Bingley, West Yorkshire (2009)
|
|
| Private Ltd | |
| Industry | Service industry |
| Founded | 1865 |
| Founder | William Timpson |
| Headquarters | Wythenshawe, Manchester, England |
|
Number of locations
|
1,325 (owned stores) with 110 Snappy Snaps franchises |
|
Area served
|
United Kingdom, Ireland |
|
Key people
|
John Timpson James Timpson |
| Services | Shoe Repairs Watch Repair Engraving Mobile Phone Repairs dry cleaning photo processing |
| Revenue | £169M |
| £12M | |
| Owner | John Timpson & family |
|
Number of employees
|
4,700 |
| Subsidiaries | Max Spielmann Timpson Key & Locker Solutions Johnson Cleaners Snappy Snaps! Timpson Property Investments Photographic Retail 2008 Limited Timpson Chef Academy Community Interest Company Timpson Ireland Limited Timpson Sol Limited |
| Website | www |
Timpson is a British multinational retailer specialising in shoe repairs, key cutting and engraving, as well as dry cleaning & photo processing. The company also offers mobile phone repairs, jewellery and watch repair, custom-made house signs. It is based in Wythenshawe, Manchester, and currently has over 1325 outlets in the United Kingdom and Ireland. In January 2014, Timpson purchased the photographic services franchise, Snappy Snaps, increasing its store count by 118.
Timpson was founded in 1865 by shoemaker William Timpson and his brother in law Walter Joyce, selling shoes at 298 Oldham Road, Manchester. It expanded into shoe manufacturing in 1884 at factories in Kettering, and repairs in 1903. The company listed on the in 1929. In the 1950s, turnover was around £10m and profits £900,000. The company moved its headquarters to Wythenshawe in 1964.
In the early 1960s, family member and Nottingham University graduate John Timpson returned from his post-graduate management training scheme with C. & J. Clark in Street, Somerset to join the family-owned business, becoming director responsible for buying in 1970. In 1973, after John's father Anthony was ousted as chairman by his uncle Geoffrey, the company was acquired for £28.6m by United Drapery Stores. John stayed with the firm, became managing director of leather and fur retailers Swears & Wells, then in 1975 appointed managing director of the former family business, William Timpson Ltd.
In 1983, John led a £42M management buyout of William Timpson from then owners Hanson Trust plc. To raise funds, £30M came from selling the freeholds of the firm's stores and leasing them back, the rest via debt financing from venture capitalists. After four years of poor trading, to reduce debt on the balance sheet, the company sold the loss-making shoe retail business for £15M to rival George Oliver, and focused on building the shoe repairing and key cutting business.
...
Wikipedia