page_title: Iceland (supermarket)
section_title: History
hierarchical_section_title: Iceland (supermarket) / History
caption_attribution_description: English: The interior of an Iceland supermarket, showing the utilisation of freezer cabinets, which the store is known for.
context_page_description: Iceland Foods Ltd is a British supermarket chain headquartered in Deeside, Wales. It has an emphasis on the sale of frozen foods, including prepared meals and vegetables. They also sell non-frozen grocery items such as produce, meat, dairy, and dry goods. The company has an approximate 2.2% share of the UK food market.
context_section_description: Iceland began business in 1970, when  Malcolm Walker opened the first store in Leg Street, Oswestry, Shropshire, England, with his business partner Peter Hinchcliffe. Together, they invested £60 for one month's rent at the store. The name 'Iceland' was suggested by Walker's wife Rhianydd (Ranny). 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 1977, they'd opened a new store in Manchester selling own-labelled packaged food, and by 1978 it had 28 stores to its name.
  In 1983, the business grew by purchasing the 18 stores of Bristol-based St. Catherine's Freezer Centres, and in 1984 the business went public for the first time. The cash investment was used to purchase South East-based Orchard Frozen Foods in 1986, and the purchase of larger rival Bejam in 1988. In 1993, Iceland took over the food halls of the Littlewoods department store and also acquired the French Au Gel chain. The latter move proved unsuccessful and the stores were dropped within a year.
  In 1996, eight stores were opened in Ireland, seven in Dublin and one in Letterkenny. They all closed down in 2005 owing to financial difficulties. The supermarket also attempted ties with British Home Stores. In May 2000, Iceland merged with Booker plc with Booker's Stuart Rose taking the role of CEO of the merged company. He left for the Arcadia Group in November 2000 and was replaced by Bill Grimsey in January 2001.
   Soon after Grimsey's appointment, Malcolm Walker, Iceland's founder and chairman, was forced to stand down, as it was revealed that he had sold £13.5 million of Iceland shares just five weeks before the company released the first of several profits warnings. Walker was fully cleared of these allegations in October 2004.
  Iceland's holding company was renamed the Big Food Group in February 2002, and attempted a refocus on the convenience sector with a bid for Londis. Grimsey remained until the takeover and demerger of the Big Food Group by a consortium led by the Icelandic company, Baugur Group, in February 2005. Walker returned to his previous role at Iceland. Iceland's website has a page critical of Grimsey's period in control.
  After Baugur Group collapsed in 2009, a 77% stake in Iceland came into the ownership of the Icelandic banks Landsbanki and Glitnir. In 2012 the stake was purchased by a consortium including Malcolm Walker and Graham Kirkham.
  Since Malcolm Walker's return to the company, Iceland has reduced the workforce by 500 jobs at the Deeside head office, with approximately 300 jobs moved in September as a result of a relocation of a distribution warehouse from Deeside to Warrington. During July 2006, 300 workers took industrial action with the support of their union, blocking several lorries from entering the depot. Despite this, the transfer to Warrington took place and the new warehouse was later outsourced to DHL in April 2007.
  In November 2008, Iceland re-entered the Irish market, when it reopened a store in Ballyfermot in Dublin, after Iceland agreed a franchise deal with an Irish cash and carry company, AIM, and in November 2009 a second store reopened in Finglas, Dublin. A third opened on the Navan Road in September 2010. A fourth store opened in the Ilac Centre in Dublin in November 2010. There are now ten Iceland stores in Ireland.
  In January 2009, Iceland announced that it would buy 51 stores in the UK from the failed Woolworths Group chain, three days after the final 200 Woolworths stores closed their doors for the last time. In April 2009, Iceland announced plans to close its appliance showrooms by September 2009 to concentrate on food retailing. Iceland's sales for the year ended 27 March 2009 were £2.08 billion, a 16% increase on the previous year, with net profits of £113.7 million. An additional Iceland store opened in Dudley town centre on 2 December 2010 in part of the former Beatties department store, 21 years after their initial departure from the town.
  Iceland also operates st
caption: The interior of an Iceland supermarket in Horwich, Bolton, Greater Manchester
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