The businessman whose infamous “cr*p” gaffe wiped £500 million off his company’s value admits that the disaster eventually had a positive side.

Jeweller Gerald Ratner, the headline speaker at Kent B2B expo in Ashford tomorrow, (Tuesday) told an audience of bosses in 1991 that his product could be sold for such a low price “because it’s total cr*p.” He went on to say that some of the firm’s earrings were “cheaper than an M&S prawn sandwich but probably wouldn’t last as long.”

The remarks were widely reported in the national press and Ratner entered seven years of unemployment and isolation. “Doing a Ratner” went into the language.

Mr Ratner said the comments were included in the speech after colleagues suggested he needed some jokes. He revealed that he had used them in a previous speech and, while reported, had received little attention.

“But in 1991, we were in deep depression and the press were looking for scapegoats,” he said. “It was a complete disaster. I lost everything.” But it has since helped him rebuild his business life. His notoriety helped to give a health club enterprise widespread publicity, and his online jewellery venture is proving a big success. “I turned a huge negative into a little positive,” he said.

Mr Ratner, 63, will tell Kent business leaders that they can recover from setbacks. “If I can come back from a pretty dark place, anybody can come back. My name was like mud in terms of branding. But you’re not finished, you can come back and you will probably enjoy it more the second time around.”

Business people nowadays were frightened of speaking their mind, surrounding themselves with PR advisers and management-speak. “Everybody is ultra-cautious and it becomes meaningless,” he said.

He has not been to Kent for many years but, before his gaffe, visited branches of his famous jewellery brands such as Ratner, Ernest Jones and H Samuel. “It will be nice to come back,” he said.

Kent B2B 2013, now in its 27th year and the county’s most established Business to Business Exhibition, is being held at Ashford International Hotel on June 11 from 8.30am to 4.30pm. Pre-register at www.kentb2b.co.uk or call 01732 758530