Cooltrader steals BFG's property boss Tim Yates

Entrepreneur Malcolm Walker has cheekily nabbed Big Food Group property director Tim Yates to take up the same role at his fledgling Cooltrader chain.

Walker founded Iceland, which subsequently became Big Food Group (BFG), but left in controversial circumstances in January 2001.

Cooltrader, a rival to Iceland, will have 10 stores by Christmas and, according to managing director Andy Pritchard, wants to 'roll out 50 as soon as possible'.

Yates will be replaced at BFG by John Reynolds, formerly head of property at McDonald's. He joins on December 1.

BFG chief executive Bill Grimsey said: 'John's appointment is a significant boost to our property department.'