Paul Baxter, TM Retail’s trading director has resigned from the company “to pursue a number of investment opportunities”.
Baxter joined TM Retail five years ago as marketing director after leaving another c-store chain, Alldays, where he had been commercial director.
The move meant he rejoined his former boss at Alldays, David Saunders, who left Alldays shortly before Baxter and became managing director of TM.
During Baxter’s time at TM it developed a joint c-store package with Somerfield, but the 1,200 store group comprising Martins, Forbuoys and RS McColl fascias has failed to match the growth of its peers.
The venture capital companies which own the majority of TM have put it up for sale, but while Co-operative Group and Sainsbury have taken a serious look it has failed to attract a buyer, while other chains have been snapped up.
For the full story, see The Grocer, dated 17 July 2004.