British toy shop chain The Entertainer hands ownership to its 1,900 staff
The Entertainer, whose parent firm also owns Early Learning Centre toys, will share profits among workers under the new structure.
Gary Grant opened the first shop in Buckinghamshire with his wife Catherine 44 years ago.
The group now runs some 160 shops and 1,000 concessions across the UK in retailers like Tesco and Marks & Spencer.
Mr Grant 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 will be handed bonuses based on the amount of profit the business makes in the future.
It also means staff get to have a say in how the business is run.
The Entertainer shops across the UK close on Sundays as part of the Grant family's Christian ethos which encourages staff to spend the day with their families.
Teal Group, which owns the chain and toymaker Addo Play, made a pre-tax profit of £6.7 million in the year to the end of January 2024, according to its most recently filed accounts.
The UK's biggest employee-owned company is the John Lewis Partnership, with around 70,000 of its staff sharing in the company's profits.
Outdoor activities group Go Ape has some 1,000 staff that share in any surplus profits after handing over ownership in 2022, while TV and hi-fi retail chain Richer Sounds transferred shares into a trust six years ago.
James de la Vingne, chief executive of the Employee Ownership Association, said it was 'always an exciting time when a major high street brand takes the bold move to become employee-owned'.
'We're seeing a growing trend for retailers making the move to employee ownership alongside calls to help save the high street,' he said.
Get all the latest news from around the country Follow STV News
Scan the QR code on your mobile device for all the latest news from around the country
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
North Wales Chronicle
3 hours ago
- North Wales Chronicle
Victorian-era floral favourites asters make comeback at UK supermarket
The blooms were popular in the Victorian era when floriography, the language of flowers, was used as a discreet way to communicate feelings. Etiquette in 19th century England discouraged open displays of emotion. Tesco Flowers expert and technical manager Jamie Simpson said the supermarket started selling asters in 2022 'not only because they look lovely but also because they are such great value for money'. 'In that first year we sold 215,000 bunches but they became so popular so quickly that last year we sold 500,000,' he said. 'This year we hope to sell nearly double that.' In 19th century England, asters were seen as a symbol of love, patience and wisdom making them a perfect gift for a loved one. They also represented elegance and grace, two qualities that were valued during the Victorian era. 'Asters are glorious flowers that have only recently come back into vogue with growers but that, in just two years, have made a sensational impact with shoppers,' said Mr Simpson. 'Aster Matsumoto which are also known as Japanese aster, bear beautiful, large daisy-like flower heads and come in many different colours such as blue, purple, pink, dark pink, red, and white all with a bright yellow centre.' The UK's biggest grower of asters, L&D Flowers based in Pinchbeck near Spalding, Lincolnshire, has grown five million stems for this season to meet demand. James Lacey, managing director at L&D Flowers, said: 'Similar to a lot of fruit grown in the UK this year we have experienced a bumper crop of asters this summer because of all the sunshine and extra hours of daylight. 'We only started growing asters three years ago as a result of the success we have had with sunflowers but we've really been taken back by just how popular the flower has become in so short a space of time. 'In 2022, to start with, we planted enough asters to create 100,000 bunches which we've been told flew off the shelves. 'This year we've grown enough for 1.2 million bunches which is an increase of 1,100% on our initial planting. 'We grow the asters on the grade one silt soils of south Lincolnshire which are not only very fertile but also retain moisture well which has helped us through all the heatwaves which we have had this summer.' According to Tesco, the reason asters have become so popular is that they are an impactful, British seasonal flower, with vivid colours, a good vase life and are priced at just £3 a bouquet. Asters are fast growing annual flowers that bloom in the late summer. The flower is native to Japan and is a member of the asteraceae family, along with other popular cut flowers such as sunflowers, dahlias, and chrysanthemums. The aster seeds are sown into plugs and are started off in the greenhouse. When the small plants have established themselves, they are transplanted out into the field to continue their growth. It takes about 12-14 weeks from planting the plus to flower harvest. Tesco's aster bouquets are priced at £3 for a single coloured bunch or £6 for a bumper mixed coloured bunch.
Glasgow Times
3 hours ago
- Glasgow Times
Victorian-era floral favourites asters make comeback at UK supermarket
The blooms were popular in the Victorian era when floriography, the language of flowers, was used as a discreet way to communicate feelings. Etiquette in 19th century England discouraged open displays of emotion. Tesco Flowers expert and technical manager Jamie Simpson said the supermarket started selling asters in 2022 'not only because they look lovely but also because they are such great value for money'. Managing director James Lacey amongst his crop of asters in bloom at L&D Flowers in Pinchbeck, near Spalding, Lincolnshire (Joe Giddens/PA) 'In that first year we sold 215,000 bunches but they became so popular so quickly that last year we sold 500,000,' he said. 'This year we hope to sell nearly double that.' In 19th century England, asters were seen as a symbol of love, patience and wisdom making them a perfect gift for a loved one. They also represented elegance and grace, two qualities that were valued during the Victorian era. Demand for asters rocketed by nearly 350% over the last two sales years at Tesco (Joe Giddens/PA) 'Asters are glorious flowers that have only recently come back into vogue with growers but that, in just two years, have made a sensational impact with shoppers,' said Mr Simpson. 'Aster Matsumoto which are also known as Japanese aster, bear beautiful, large daisy-like flower heads and come in many different colours such as blue, purple, pink, dark pink, red, and white all with a bright yellow centre.' The UK's biggest grower of asters, L&D Flowers based in Pinchbeck near Spalding, Lincolnshire, has grown five million stems for this season to meet demand. James Lacey, managing director at L&D Flowers, said: 'Similar to a lot of fruit grown in the UK this year we have experienced a bumper crop of asters this summer because of all the sunshine and extra hours of daylight. The blooms were popular in the Victorian era when floriography, the language of flowers, was used as a discreet way to communicate feelings (Joe Giddens/PA) 'We only started growing asters three years ago as a result of the success we have had with sunflowers but we've really been taken back by just how popular the flower has become in so short a space of time. 'In 2022, to start with, we planted enough asters to create 100,000 bunches which we've been told flew off the shelves. 'This year we've grown enough for 1.2 million bunches which is an increase of 1,100% on our initial planting. 'We grow the asters on the grade one silt soils of south Lincolnshire which are not only very fertile but also retain moisture well which has helped us through all the heatwaves which we have had this summer.' A field of asters in bloom at L&D Flowers in Pinchbeck, near Spalding, Lincolnshire (Joe Giddens/PA) According to Tesco, the reason asters have become so popular is that they are an impactful, British seasonal flower, with vivid colours, a good vase life and are priced at just £3 a bouquet. Asters are fast growing annual flowers that bloom in the late summer. The flower is native to Japan and is a member of the asteraceae family, along with other popular cut flowers such as sunflowers, dahlias, and chrysanthemums. The aster seeds are sown into plugs and are started off in the greenhouse. An aerial view of a field of aster. (Joe Giddens/PA) When the small plants have established themselves, they are transplanted out into the field to continue their growth. It takes about 12-14 weeks from planting the plus to flower harvest. Tesco's aster bouquets are priced at £3 for a single coloured bunch or £6 for a bumper mixed coloured bunch.
BBC News
4 hours ago
- BBC News
Lincolnshire florist grows five million asters for Tesco demand
Flowers grown in Lincolnshire which were popular in Victorian times are making a huge comeback, according to a major supermarket.L&D Flowers, based in Pinchbeck near Spalding, is the UK's biggest producer of asters and the company has grown five million stems for this season to meet desire for bouquets of asters, daisy-like flowers that come in several different colours, has risen by almost 350% over the last two sales years at Lacey, managing director at L&D Flowers, said: "We've really been taken back by just how popular the flower has become in so short a space of time." Asters, which bloom in late summer, were popular in 19th Century England when floriography, the language of flowers, was used as a subtle way of expressing feelings. Mr Lacey said L&D Flowers started growing asters three years ago, and made enough to create 100,000 said they were told these bunches "flew off the shelves" in 2022."This year we've grown enough for 1.2 million bunches which is an increase of 1,100% on our initial planting," he asters are grown on grade one silt soils in south Lincolnshire which Mr Lacey described as "very fertile" and "retains moisture well" which has helped the business during the summer heatwaves. Tesco Flowers expert and technical manager, Jamie Simpson, said the supermarket started selling asters in 2022 "not only because they look lovely but also because they are such great value for money".Mr Simpson said in 2022 they sold 215,000 bunches and the popularity rose in years following that with 500,000 sold last year."This year we hope to sell nearly double that," he are native to Japan and are a member of the Asteraceae family, along with other popular flowers including sunflowers, dahlias, and chrysanthemums. Listen to highlights from Lincolnshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here. Download the BBC News app from the App Store for iPhone and iPad or Google Play for Android devices
