High rollers feature in 2011 rich list

Alan Lewis - PhotopressBelfast.co.uk                   9/5/2011'Mandatory Credit - Picture by Justin Kernoghan'(L-R) George Watson, son Chris Watson, daughter Lola and George's wife Janice, pictured at Chain Reaction Cycles - Local man Chris Watson (36) from Chain Reaction Cycles in Doagh is a new entry in the Sunday Times Rich List 2011. In 2009 the company made �8m profit on �77.4m sales and is now worth �75m. Chain Reaction Cycles celebrated its 25th anniversary in 2010. In that time the Northern Ireland-based company has grown from a small family-owned bike shop to the number one online bike store in the world operating from a 100,000 sq ft purpose built factory.� It was in 1984 that George and Janice Watson decided to open a bike shop. George left his job in the road service and armed with just a �1500 bank loan, they set up Ballynure Cycles, in the small village of Ballynure in Northern Ireland. In 1989 the company moved to another larger premises and ten years later as Chain Reaction Cycles, it moved i
Alan Lewis - PhotopressBelfast.co.uk 9/5/2011'Mandatory Credit - Picture by Justin Kernoghan'(L-R) George Watson, son Chris Watson, daughter Lola and George's wife Janice, pictured at Chain Reaction Cycles - Local man Chris Watson (36) from Chain Reaction Cycles in Doagh is a new entry in the Sunday Times Rich List 2011. In 2009 the company made �8m profit on �77.4m sales and is now worth �75m. Chain Reaction Cycles celebrated its 25th anniversary in 2010. In that time the Northern Ireland-based company has grown from a small family-owned bike shop to the number one online bike store in the world operating from a 100,000 sq ft purpose built factory.� It was in 1984 that George and Janice Watson decided to open a bike shop. George left his job in the road service and armed with just a �1500 bank loan, they set up Ballynure Cycles, in the small village of Ballynure in Northern Ireland. In 1989 the company moved to another larger premises and ten years later as Chain Reaction Cycles, it moved i
0
Have your say

NEWTOWNABBEY has shown that the global economic downturn need not mean financial hardship if the definitive guide to wealth in Britain and Ireland - the Sunday Times Rich List 2011 - is anything to go by.

There are no less than 7 listings for multi-millionaires and their companies based right here in the borough in the guide, proving that some high rollers still continue to march onwards and upwards even in this supposed period of austerity. Indeed, Britain’s super-rich have increased their collective wealth by 18 per cent in the past year continuing to recover from the economic crisis which wiped £155 billion from their wealth in 2009. They are now worth £395.8 billion, according to the 2011 Rich List as compared to last year’s total of £333.5 billion, after a record 30 per cent increase.

Read the full story in this week’s TIMES...