US EditionEntertainer founder gives toy shop chain to staff
UNITED KINGDOM, AUG 11 – The Entertainer will become fully employee-owned by September 2025, giving 1,900 workers profit shares and decision-making roles, preserving the Grant family's legacy.
- Gary Grant, founder of The Entertainer, will hand full ownership of the UK toy retailer to its 1,900 employees through an employee ownership trust starting in September 2024.
- The family chose this model after exploring exit options to preserve their Christian ethos, legacy, and the family-run feel amid broader retail challenges.
- The Entertainer runs 160 shops and over 1,000 concessions, including Tesco and Matalan, generating most profits before Christmas and employing many long-serving staff.
- Grant explained that employees will receive profit shares as bonuses of up to £3,600 each year and gain input into company decisions, although it is currently too early to determine if bonuses will be awarded for this financial year.
- The transfer, due to complete next month, aims to reward staff loyalty and sustain the business, which posted pre-tax profits of £6.7m for the year ending January 2024.
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The 66-year-old owner opened his first store in 1981, and the company has since had 160 stores.
The owner of the company The Entertainer, who did not open on Sundays for religious reasons, says that "he would have been concerned to sell to a company with completely different values"Poly, Toys 'R' Us or Imaginarium: the sunset of the toy shops The British toy chain The Entertainer, the largest in the country with 160 stores, will pass into the hands of the staff, made up of about 1,900 workers. It will do so at the end of next September, wh…
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Total News Sources38
Leaning Left6Leaning Right2Center14Last UpdatedBias Distribution64% Center
Bias Distribution
- 64% of the sources are Center
64% Center
L 27%
C 64%
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