The largest independent toys in the United Kingdom is taken from private property and will belong to its employees, which will share the benefits of the company.
The founder of the artists’ chain, Gary Grant, takes the future of the company under the control of its 1,900 employees.
The company operates more than 160 stores as well as concessions in Tesco, Matalan and M&S.
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Due to the changes of ownership, employees will be rewarded by tax bonuses according to the profits generated in the future.
To help employees shape policies and share ideas, an advisory committee for colleagues will be created
The management of the company will be supervised by a trust of three people, one of which will be a representative of the board of directors. This confidence will hold 100% of the company.
The current shareholders, the subsidy family, will be remunerated for the sale of their participation from the future profits of the company.
This is done to ensure that the company, which also has the early learning center and the Addo game, remains independent and to preserve the family inheritance and the feeling of the company.
Gary Grant, founder of the toy retailer The Entertainer
‘An increasing trend’
This is part of what is described by the Director General of the Employee Protection Association, James de La Vingne, as a “growing trend” for retailers.
“We see a growing trend for retailers who move to the possession of employees alongside calls to help save the main street,” he said.
The other companies that exploit such a model include the John Lewis partnership, the Home Entertainment Riche Riche Sounds and the outdoor adventure company Go Ape.
“I have no doubt that other familiar brands will follow the artist’s example of what is possible. The future of the main street is the property of employees,” added Mr. de la Vingne.
What is the artist?
The company was founded in 1981 in the Buckinghashire by Gary and Catherine Grant.
It is also a designer, source, developer and wholesaler of toys in several international markets.