Updated: Dunelm founder and life president Bill Adderley has sold a 7.8% stake in the company.

Adderley has sold around 15.6 million shares in the homewares retailer, which represents 18.6% of his total stake. Shares were priced at 310p per share.

Adderley now holds 68 million shares - around 34% of the company.

UBS Investment Bank and Oriel Securities handled the placing.

Adderley has agreed he will not dispose of further shares in the retailer for at least 12 months after the completion of the placing.

Will Adderley, chief executive of Dunelm, holds 50 million shares – representing 25% of the company – and is not selling any shares.

Bill Adderley founded the retailer with his wife Jean in 1979.

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