Iceland boss gets firm back

The man who founded frozen food chain Iceland in Shropshire 40 years ago was celebrating today after winning a race to buy it back.

Malcolm Walker, who opened the first shop in Oswestry in 1970, is back at the helm after leading a £1.45 billion takeover.

Mr Walker's consortium bought the firm from liquidators of two Icelandic banks.

He said: "I am delighted that we have been able to conclude a deal that ensures a secure, independent future for this great British company."