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Title: Major British Toy Retailer Unveils Sweeping Changes Impacting All 1,900 Staff
One of the UK’s most prominent toy retailers has announced a significant overhaul that will affect every single one of its approximately 1,900 employees. The Entertainer, a major player in the industry, is transforming into an employee-owned enterprise. This move allows workers to have a stake in the company without needing their own personal funds.
Under this new structure, profits made by the business will be distributed amongst employees as bonuses, giving them a vested interest in the organization’s financial performance. Additionally, staff members will gain more control over decision-making processes within the company.
The move marks a significant departure from the traditional ownership model, where shareholders have complete control. The Entertainer’s founders, Gary and Catherine Grant, who started the first store 44 years ago with their two eldest sons joining in the business, are relinquishing control to ensure the future success of the company by empowering its workforce.
The UK has seen a notable increase in employee-owned companies, with this shift allowing employees to have a significant stake in the organization. Notably, the John Lewis Partnership is the nation’s largest employer-owned company, and there are more than 1,000 workers at Go Ape who share profits after going private in 2022.
Gary Grant emphasized that “we’ve spent our entire working lives into this business.” The couple wishes to pass on their legacy by empowering their employees.
Source: www.dailymail.co.uk
