Son of Poundstretcher founder killed after Mercedes careered off motorway into tree

The son of the multi-millionaire founder of budget chain Poundstretcher has been killed in a car crash after his Mercedes careered off a motorway and into a tree.

Wealthy businessman Sabir Tayub, 48, was pronounced dead at the scene of the crash on the eastbound carriageway of the M45 near Rugby, Warwickshire, last Tuesday (15 November).

Police have launched an investigation into the circumstances surrounding why his grey coupe may have come off the road. The incident happened in broad daylight at about 1.30pm.

Tayub, from Rothley, was the managing director of Nottingham-based storage giant Sert UK, and a member of the wealthy Tayub family, thought to be worth £250m (€292m, $310m).

His father, Rashid Tayub, 67, set up Crown Crest food company which owns the Poundstretcher chain. The company is now run by Sabir's uncle, Aziz Tayub.

The family started their business empire with just a modest corner shop after arriving in the UK from Malawi in the 1970s.

Uday Dholakia, a former chairman of Leicestershire Asian Business Association, told the Leicester Mercury: "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."

An inquest into Sabir's death was opened on Friday (18 November) but adjourned to give police more time to investigate the crash.

Officers are trying to trace the driver of a white or silver BMW who was in the area driving towards the M1 at the time.

They would also like to hear from anyone who witnessed it or saw the car, and the manner in which it was being driven, before the collision occurred.

Anyone with information is asked to call Warwickshire Police on 101 quoting incident 187 of November 15.