BORDERS-based online tyre retailer Blackcircles.com has revealed it is harnessing the expertise of former Tesco chief executive Sir Terry Leahy, who it has emerged has been a shareholder in the business for three years.

Blackcircles, which employs about 38 people and said it had moved into profit recently, noted both its 32-year-old chief executive Mike Welch and Sir Terry are Liverpudlians.

Blackcircles, which declared it was on target for turnover of £20 million in 2011 after a decade in business, said Sir Terry would be “using his considerable experience to help...Mike Welch to accelerate the growth of the business”.

The tyre retailer, which has diversified into servicing and MOTs, said it had “already benefited from ad hoc mentoring from Sir Terry, who has been a shareholder in the company for three years”.

Sir Terry said: “It has been refreshing and exciting getting back to working with young, up-and-coming businesses.

“The culture of online buying is continuing to grow and accelerate...and Blackcircles.com is strongly placed in the motoring category to capitalise on the changing face of retail.”

Mr Welch said: “If I had to pick one person who has inspired me in my business life it would, without a doubt, be Sir Terry for the way he evolved, and in many ways created, the modern retail market.”

And he quipped: “Rumours that we brought fellow Scouser Sir Terry in to save on translation costs are entirely unfounded.”