Entertainer founder gives toy shop chain to staff
Summary
The founder of the UK's biggest toy chain, The Entertainer, is giving full ownership of the company to its 1,900 workers through an employee trust. The owner, Gary Grant, is transferring his 100% share of the business to ensure employees have a share in profits and decision-making. This move follows careful planning to maintain the company's values and legacy.Key Facts
- The Entertainer is the largest toy store chain in the UK with 160 shops.
- Gary Grant, who started the business in 1981, is transferring full ownership to an employee trust.
- The company employs 1,900 people who will now have a say in how it's run and share in the profits.
- Gary Grant and his family will receive financial compensation from the business's future profits for their shares.
- The Entertainer made £6.7 million in pre-tax profits for the year ending in January 2024.
- The company maintains a Christian ethos, donating 10% of annual profits to charity and staying closed on Sundays.
- Nearly 400 employees have worked at The Entertainer for over 10 years, with about 50 having more than 20 years of service.
- The transfer is set to complete next month with Andrew Murphy, an external appointee, to lead the company.
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