// The family owners behind Home Bargains paid themselves a £20 million dividend last year despite profits falling by 26%
// The Morris family sparked controversy last year when it refused to repay taxpayer support from the pandemic
Home Bargains billionaire owner TJ Morris was handed over £20 million in dividends last year despite the retailer’s profits falling by 26%.
The Liverpool-headquartered company posted profits of £290 million for 2022 from revenues of £3.42 billion, This is money reports.
This led to a £30 million dividend to shareholders, with the lion’s share going to chief executive Tom Morris.
The Morris family, which has a reported fortune of more than £5 billion, landed itself in hot water last year after it refused to repay taxpayer support from the pandemic despite pre-tax profits swelling close to £400 million.
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Home Bargains, which has 570 UK outlets selling a variety of discount products, launched in 1976 and now employs 28,000 workers.
At the start of the year, the retailer acquired discount retailer Quality Save for an undisclosed sum as it looks to expand its business.
Home Bargains said it will be bringing Quality Save stores into Home Bargains, increasing its store numbers and simplifying how the business works.
Home Bargains operations director Paul Roland has joined the Quality Save board following the deal.
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