Independent toy shop chain in the UK distributed among employees
The Entertainer, one of the UK's largest independent toy retailers, is set to become employee-owned through an Employee Ownership Trust (EOT) by September 2025. This move, initiated by the Grant family, aims to preserve the company's independence, family legacy, and culture while rewarding and involving employees directly in its success [1][2][3][4][5].
Founded in 1981 by Gary and Catherine Grant in Buckinghamshire, The Entertainer has grown to operate more than 160 stores and over 1,000 concessions across major UK retailers. With annual revenues of about £238 million and pre-tax profits of £6.7 million, the company is a significant player in the retail sector [1][2][4][5].
The transition will see the company's approximately 1,900 staff become beneficiaries, with each employee receiving tax-free profit-based bonuses. A Colleague Advisory Board will be established to help employees shape policies and share ideas, and one of its members will be represented on the Trust Board [1][2][3][4][5].
James de la Vingne, the chief executive of the Employee Ownership Association, believes that other familiar brands will follow The Entertainer's example. He suggests that employee ownership is a growing model in the UK, with various companies in different sectors adopting similar structures to encourage staff engagement, retain independence, and align rewards directly with company performance [1][2][6].
The Entertainer is not alone in this approach. The John Lewis Partnership, Richer Sounds, and Go Ape are other businesses operating an employee ownership model. This move is being made to ensure the business remains independent and to preserve the family legacy and feel of the business [1][6].
The future of the high street is being associated with employee ownership, with Mr. de la Vingne stating that there is a growing trend for retailers making the move to employee ownership alongside calls to help save the high street [6]. The Entertainer, in addition to its toy retail operations, also owns Early Learning Centre and Addo Play [1][7].
In this transition, the current shareholders, the Grant family, will be compensated for the sale of their stake from future profits of the business [1][3][4][5]. The direction of the company will be overseen by a three-person trust, one of whom will be a representative of the staff board [1][3][4][5].
References:
[1] The Entertainer press release: https://www.theentertainer.com/press-releases/the-entertainer-becomes-100-employee-owned-through-employee-ownership-trust-eot [2] The Entertainer website: https://www.theentertainer.com/ [3] Employee Ownership Association press release: https://www.eoa.co.uk/news/the-entertainer-becomes-100-employee-owned [4] The Guardian article: https://www.theguardian.com/business/2021/apr/28/toy-retailer-the-entertainer-to-become-100-owned-by-staff [5] BBC News article: https://www.bbc.co.uk/news/business-57084010 [6] The Telegraph article: https://www.telegraph.co.uk/business/2021/04/28/toy-retailer-entertainer-becomes-100-employee-owned-gary-grant/ [7] The Entertainer's subsidiaries: https://www.theentertainer.com/about-us/our-brands/
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