Toy shop workers in the Midlands are set to enjoy a share of their company's profits as The Entertainer hands ownership to staff
Employees at The Entertainer toy shops in the Midlands are to become owners of the company after the British high street chain announced it is handing over control to its staff.
The firm, which also owns the Early Leaning Centre brand, is one of the UK’s biggest toy shop chains with around 1,900 staff and 160 shops, plus 1,000 concessions in retailers including Tesco and Marks & Spencer.
Locally, it has standalone outlets in Wolverhampton, Walsall, West Bromwich, Merry Hill, Birmingham’s Bullring, Sutton Coldfield, Solihull, Lichfield, Kidderminster, Redditch, Telford, Shrewsbury, Burton-on-Trent and Hanley in Stoke on Trent.
The news means staff will enjoy a share of the company’s profits going forward.
Gary Grant, who opened the first shop in Buckinghamshire with his wife Catherine 44 years ago, said it was a “momentous day” for the family, adding: “Over the last 44 years, we have invested our working lives into this business.
“All our children are shareholders, and our two oldest sons joined to work alongside us, 20 years ago – so it’s truly a family business.
“This is a significant decision for the family, and one we haven’t taken lightly, but it feels like the right time to transfer our entire shareholding into an employee ownership trust.”
As beneficiaries of the trust, employees of The Entertainer will be handed bonuses based on the amount of profit the business makes in the future. Staff will also have a say on how the business is run.
The group, which closes its UK shops on Sundays so staff can spend the day with their families, made a pre-tax profit of £7.9 million in the year to the end of January 2024, according to most recently filed accounts.
The UK’s biggest employee-owned company is the John Lewis Partnership, which has around 70,000 staff enjoying a share of the company’s profits.
