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Dunelm sees shares fall after Adderley sells stake

DunelmSS21Shares in Dunelm have fallen by almost 9% after Will Adderley, Dunelm deputy chairman sold a 7.4% stake in the chain.

The share price dropped by 8.81% after Adderley and his wife Nadine sold 15million shares at £12.80, raising £192m yesterday.

Adderley, his wife and their charitable trusts still own 37.8% of the group’s shares after the sale. The wider Adderley family retain 43.2% of the shares. Adderley – son of Dunelm’s founders Bill and Jean Adderley – has twice been chief executive of the business, says the sale was in order to broaden his investments.

‘Will Adderley remains fully committed to Dunelm in his role as deputy chairman as well as a very substantial shareholder in the company and his working relationship with the company is unchanged,’ Dunelm says.

The group was valued at £2.85bn today. The share price ended last week at £14.08.