Bobby Arora, the billionaire co-owner of the B&M homewares discount chain, will be granted millions in bonuses to stay.

He will be handed a maximum of £16m in addition to his regular package for his role as group trading director – to ensure he stays until ‘at least’ March 2026.

Signing on: Bobby Arora will be granted millions in bonuses to stay at B&M

‘Bobby has played an instrumental role in developing the B&M customer proposition and delivering long-term growth and profitability,’ the company said.

Bobby and his brother Simon, the former chief executive replaced by Alex Russo last year, acquired B&M in 2004 when it was an ailing chain of 21 stores and turned it into a powerhouse of about 1,000 shops in the UK and France.