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Gerald Ratner

Gerald Ratner

British businessman

May 9, 2026

1:49
So tell us the joke.
1:51
Well, I d- one of the jokes was that we sell a pair of earrings, gold, for 99p, which is the same price as a Marks & Spencer's prawn sandwich.
2:02
But the other joke, uh, that we sell a sherry decanter, which is, by the way, it's always been reported as jewelry, that I sell all my jewelry, but in fact it was just one i- I'm not trying to defend myself 35 years later, 'cause it was my own fault, but nevertheless, um, it's always been, even to this day on X, it still says I said all my jewelry's crap.
2:25
Well, it was that, just that one sherry decanter that I said, "How can we sell it for such a low price?" Because actually, it is a sherry decanter, six cut glasses, and a silver tray that we were selling for 9.95, which was an unbelievably low price, and boy, did it sell.
2:44
And this was a line that I'd acquired when I bought H. Samuel.
2:49
And one of the ways that I acquired H. Samuel was to tell the city that they're selling too many gifts, that they should be selling more jewelry.
2:57
We're taking more money per square foot in Ratners than Samuels because they're filling up the shop with g- So I was a bit anti-gifts anyway.

26 MINS LATER

29:24
And what was the worst thing that happened through those dark 18 months?
28:48
But do you want to, can you just share a little bit about that, Gerald? Because I think it's important for someone else that might be feeling similar things at the moment?
28:55
Yeah and I was told that I was unemployable after I lost the job and I basically gave up.
29:06
I didn't want to play anymore and spent a lot of time watching daytime television.
29:11
Countdown was my favourite.
29:14
It's a bit like if you're in a room with a smell You're not aware of that smell unless you open a window or go out into the fresh air.
29:23
You're kidding yourself that everything's fine because you don't want to face the reality that things are terrible.
29:32
And that went on for seven years, as you said.

6 MINS LATER

35:25
What does that mean to you when you think about that phrase or those three words? What springs to mind for you?

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