The Entertainer founder to hand the UK's biggest toy shop chain over to staff
The retailer, which also includes the Early Learning Centre and Addo brands, will being transferred into a trust by the end of September, with payments to the family coming out of future profits. The valuation of the company has not been revealed.
A newly created employee advisory board will have influence over the future direction of the group and staff will be rewarded through tax-free bonuses based on the amount of profit the business generates.
Founded in 1981 by Gary and Catherine Grant, The Entertainer has grown from just one shop in Amersham, Buckinghamshire, to 160 stores and more than 1,000 concessions in the UK in other retailers including Tesco and Marks & Spencer. It also trades online and overseas.
Gary Grant, who ran the business for many years until he was replaced by the former John Lewis executive Andrew Murphy in 2023, is to step down as chair in September when the deal completes. Grant's sons, who both work at The Entertainer, will also step away at that time. Murphy's experience at the UK's biggest employee-owned business is expected to help shape the future of The Entertainer.
Grant said: 'Today marks a momentous day for the Grant family. It feels like only yesterday that my wife Catherine and I opened our first store in Amersham, and we could only have dreamed what heights the business would reach.
'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.'
He added: 'We'd like to send our sincere thanks to all our employees, who have worked hard to make The Entertainer what it is today. When we started the business, we had a vision of keeping an unwavering focus on children and community through creating memories, inspiring wonder and delivering outstanding service. We couldn't be more proud that this still remains at the heart of the business today.'
The Entertainer is joining hundreds of other UK businesses including the retailer Richer Sounds and the vegetable-box seller Riverford that have handed control to staff.
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James de la Vingne, the chief executive of the Employee Ownership Association, said shifting to staff ownership could 'futureproof beloved brands, root jobs in local communities and inject wealth into regional economies'.
He added: 'This is a bold and brilliant commitment to shared success and a stake in the future for the people who make the business what it is, arriving at a time when many retailers are rethinking what long-term success looks like.
'I have no doubt that other familiar brands will follow The Entertainer's example of what's possible. The future of the high street is employee ownership, and the future is already happening.'
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