Dragons’ Den Hilary Devey made millions after ‘boss patted her on the head and turned her away’
After being refused cash by a bank to start her freight company, ex Dragons’ Den star Hilary Devey sold her home and car to raise capital, going to make millions and business accolades
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Hilary Devey reflects on her time on ‘Dragons Den’
Ex-Dragons’ Den judge Hilary Devey went onto create a multi-million pound business after a “misogynistic” bank manager turned down her pitch, patted her on the head and told her to “look after” her child instead.
The business woman and former Loose Women panellist, who has died aged 65 after battling a long illness, sold her house and car to raise the £112,000 she needed to launch her company, Pall-Ex.
Tributes have been paid to Hilary after the sad news was announced today, including by her fellow Dragon, Theo Paphitis, who said: “So sad to hear of the passing of the lovely Hilary Devey. She left us all with some fantastic memories, may she rest in peace. ”
Having left school at 16, and taking on a number of jobs, including in the Woman’s RAF, Deborah went on to found her freight distributing company in 1996, which by 2016 was worth an estimated £100million.
Hilary Devey receives her CBE in 2013
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( PA)
Hilary on the Graham Norton show in 2011
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( PA)
She was inspired while working as a clerk at a freight delivery firm, and heard one of the drivers say that he would have to wait until morning to fill his vehicle with enough cargo to justify making a journey.
This led her to create Pall-Ex, where drivers pool their cargo, meaning distribution is more efficient.
In a 2016 interview with This is Money, Hilary spoke about her long struggle to fulfil her ambition, and how she was turned down by the bank when she applied for funding, despite an accurate business plan.
Hilary with her fellow dragons on Dragons’ Den
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( TODD ANTONY PHOTOGRAPHY)
She said: “The bank manager was a bit of a misogynist, frankly. He patted me on the head, said I had no chance. Told me one in every three businesses fails. Just go home and look after the child.
“When the bank refused me, I sold my house and car, and everything but my son (and myself) to raise the money.
“I needed £112,000 to get going, and that was what I put in all on my own.”
Hilary made her first million at 40 with her freight business
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( Five TV)
By the age of 40 she made her first million.
Hilary shot to fame with he appearance on The Secret Millionaire in 2008 and later presented The Business Inspector in 2010.
Her big break came on BBC business show Dragons’ Den where the Bolton native’s no-nonsense approach became a hit with fans.
She stayed with the show just one year after leaving when she acquired a contract to join the Loose Women panel in 2015.
Hilary and Dermot O’Leary at the NTA Awards
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( PA)
Hilary appeared on a number of TV programmes
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( PA)
Hilary’s personal life had turbulent moments.
Her mum made the discovery that her partner, and Hilary’s father, had a secret wife and four other children.
In a bizarre twist of fate, Hilary made the same revelation as her ex-partner was found to be already married and had fathered five children without her knowing.
During an appearance on Desert Island Discs, Hilary said she was “devastated” in the 1980s when she took a call from a woman who said she was her partner’s wife and he had five children.
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