Rise and Fall and Rise Again

n 1991, Gerald Ratner made a landmark speech to the Institute of Directors. After over 25 years in the jewellery trade, Gerald Ratner was one of the most well-known and successful retailers of his generation. He had built up a highly profitable, multi-million pound international business, including household names like Ratners, H Samuel, Ernest Jones, Watches of Switzerland, as well as over one thousand stores in the US. Being asked to give the keynote address at the Institute of Directors' annual conference at The Royal Albert Hall was a great honour and should have been the crowning glory on two decades of empire building.