He described his dad as a true businessman who "enjoyed life and making money". "He whispered 'happy birthday' to me on my 60th and never spoke again," he revealed, adding: "He made a lot of money over the years but in the end, health is wealth." Steve told BirminghamLive his father spoke his final words on August 9. Poundland founders Steve and Keith Smith (Image: Smith Smith) He leaves behind wife Maureen, their four children and 10 grandchildren. Sadly, the 79-year-old died at home on Friday, August 12, following a short battle with lung cancer - a few days before his 80th birthday. The proud businessman spent his later years setting up a Poundland museum in the coach house of his lavish home, tending to the grounds and organising yearly open days to raise funds for charity. By this point Keith had returned from Spain and was living at Ludstone Hall in Claverley. They sold Poundland for £50 million in 2002 - a move that transformed them into multi-millionaires. Poundland still trades from The Octagon to this day. The duo went on to open numerous shops throughout the country, employing more than 5,500 people. He gave his son a loan to set things up and the first shop opened in The Octagon shopping centre in Burton on Decemand they took £13,000 on the first day alone. During a holiday to visit his parents, Steve said he wanted to open more retail shops and when Keith suggested he sold things for £1, the idea for Poundland was born. Keith and Maureen moved the family to Mallorca after selling the business - but Steve and his wife Tracey decided to say put. When Hooty’s relocated to Willenhall, it was the largest cash and carry in Europe with an £11 million pound turnover, supplying people from across England and Ireland - including son Steve who opened Steve's Discount Market in West Bromwich at the age of 18, Birmingham Live reports. He sold to other market stall holders before opening up a cash and carry in Tipton. TOP STORY: South Derbyshire millionaire on Rich House, Poor House swaps lives with struggling single mum Realising he had a love for the trade, he gave up his job to man a stall at Bilston Market - and the rest is history. Keith bought 144 pens to sell to his factory workmates and went on to buy two more units with the profits, which he sold door-to-door. But when his wife became pregnant, he discovered his entrepreneurial streak. It was Kevin Smith's loan to his son, Steve, which led to the opening of the UK's first Poundland and ensured Burton's place in retail history.Īfter leaving school at 16, Kevin began his working life at Wellman, Smith and Owen in Walsall as an apprentice draughtsman. A 'legendary' entrepreneur who co-founded Poundland which opened its first store in Burton has died.
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