Gary Fredson lost almost all of his cash before a chance encounter led him to become a multi-millionaire as head of a successful business
A dad-of-five who was forced to live off Pot Noodles after nearly going bankrupt now heads up a multi-million pound business.
Gary Fredson, 42, hit rock bottom and had to beg his dad for cash to buy his kids’ birthday presents after almost becoming destitute.
He had homes repossessed and struggled to eat despite enjoying a very successful start to his career.
The businessman, who grew up on a council estate, achieved early success as one of Britain’s best retail managers before a series of events almost left him on the streets.
He took a job as a sales assistant in Currys after leaving school and was appointed shop manager aged just 21.
He said: “It was very young. The average age for one at that point was late 30s or early 40s.”
Success followed Gary and he went on to more top jobs – at one point he was responsible for £52m sales turnover.
He later invested cash he’d earned into the property market but the 2008 financial crash sparked the sudden start of Gary’s fall from grace.
He said: “A lot of people had several properties but their tenants were not paying rent.
“I had no money myself and was actively looking for work.
“I was unemployed for a while.”
Before he knew it, Gary was on the brink of bankruptcy.
His own home and the properties he owned were all repossessed.
Bailiffs snatched his car off his driveway.
He said: “2011 came and I was living in a flat, on the dole and getting housing benefit, on a prepaid gas and electricity meter.
“I was broken at this point.
“I didn’t have WiFi in my house, I didn’t have a laptop.
“I was missing direct debits for insurance, and struggling to eat.
“I was on Pot Noodles. There was no McDonald’s or eating out for me.
“Put simply, I was single and on the verge of destitution.
“It was bleak so I hated everyone.
“I was very negative. You find you have lots of friends when you are very successful, and when you’re not, you don’t tend to.”
Gary, from Runcorn, Cheshire, said he felt like he’d lost “a little bit of dignity”.
He added: “I couldn’t hold my head up high.
“Having to ask my dad to lend me some money to buy my daughter a present for her birthday – it’s a bit crap. I went four years without going on holiday.”
But Gary was determined to turn his fortunes around and vowed to become more positive.
He said: “I wanted to think about setting myself goals on a daily basis.”
By chance, he developed an interest in eco technology after speaking to an engineer who was fixing his boiler in rented accommodation.
He enrolled onto a course training to be an energy surveyor and soon after qualifying found a job working on commission with a £0 basic salary.
He said: “It was all about walking the streets, knocking on doors and getting sales.”
The firm, ESE Energy, now employs 80 people in swanky Liverpool city centre offices and profits have just hit £4million.
Gary is “very proud” of what he’s achieved.