The son of the multi-millionaire owner of budget chain Poundstretcher has died after his Mercedez careered off the M45 and hit a tree near Rugby, Warwickshire, last Tuesday.
Sabir Tayub, 48, who himself was the managing director of Nottingham-based storage giant Sert UK and the property investment company Sami Property Co Ltd, was pronounced dead at the scene of the crash on November 15 at around 1.30pm.
Police are still investigating the circumstances leading up to the crash and the only information released about the collision so far is that it happened on the eastbound carriageway of the M45, near Rugby, about 1.30pm when Mr Tayub’s grey Mercedes coupe left the road and hit a tree.
Police are trying to trace the driver of a white or silver BMW who was in the area at the time.
Mr Tayub was the son of Rashid Tayub, 66, who along with his brother, Aziz Tayub, set up Crown Crest food distribution which owns the national chain Poundstretcher.
The rags to riches tale of the family has been well documented in the media after the brothers arrived in the UK in 1970’s and opened their first corner shop in 1976.
They then moved into the cash and carry business which quickly expanded across the Midlands and gained several supply agreements with chains including Farmfoods and Poundland.
The brothers bought a 30 per cent stake in the Poundstretcher chain in 2007, which at the time was facing financial struggles, and turned it into a successful competitor in the industry, with about 404 stores across the UK
In 2015 Aziz Tayub came in fourth in the Midlands Asian Rich List with an estimated net worth of around £200 million.
Tributes poured in on social media from friends and family including Fraser Mercedes Watson, who wrote: ‘Well bro, I’ve been fed like a king, have been made most welcome as always, and we have chatted about our funny times together over the years.
‘The world will never be the same. Rest in peace bro, and look after my dad up there! Thinking of you always.’
Uday Dholakia, a former chairman of Leicestershire Asian Business Association, said: ‘It’s deeply saddening for the family.
‘I met Sabir in passing but I know his father Rashid, who encouraged his family to be successful but also very modest.’
Officers who are investigating the crash are appealing to anyone who witnessed the crash or saw the car before the crash to come forward.
A police spokesman added: ‘They would particularly like to speak to the driver of a white or silver BMW which drove along that stretch of road towards the M1 shortly before the incident occurred and may have important information which would help with the enquiry.’
Anyone with information can call Warwickshire Police on 101 quoting incident 187.