Latest news with #GaryGrant
Scottish Sun
a day ago
- Automotive
- Scottish Sun
Tesla targets UK home energy supply by 2026 – taking on Centrica and Octopus Energy
Read on for bad news coming the way of Iceland customers MUSK POWER Tesla targets UK home energy supply by 2026 – taking on Centrica and Octopus Energy Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) TESLA is planning to supply energy to UK households as early as 2026. Elon Musk's firm has applied for a licence in order to take on energy companies including British Gas owner Centrica and Octopus Energy. Sign up for Scottish Sun newsletter Sign up The company hopes to start supplying energy to homes and businesses across England, Scotland and Wales as soon as next year. Tesla Energy Ventures applied for the licence last month, according to a new filing published by regulator Ofgem. The electric car manufacturer also has a solar energy and battery storage business. The news comes around two years after Tesla had first started hiring for a head of operations who would run its proposed energy supply business. Tesla has been involved in the UK energy market since 2020, when it was granted a licence to be an electricity generator. In the US, the group has been an electricity supplier in Texas for the past three years. The development comes amid a backdrop of waning demand for Tesla's electric vehicles across Europe in recent months. Industry figures showed an almost 60 per cent plunge in the number of new Tesla registrations in the UK last month, compared with last year. Data showed that 987 new vehicles were registered in July, compared with 2,462 in the same month in 2024. 3 Elon Musk's Tesla Energy Ventures has applied for a licence in order to take on energy companies including British Gas owner Centrica and Octopus Energy. Credit: AFP Inside Elon Musk's Tesla diner of the future staffed by ROBOTS with drive-in movie screens & burgers in Cybertruck boxes TOY WORKER BONANZA THE founder of Britain's biggest toy chain is handing control of the business to his 1,900 employees. Gary Grant, 66, is stepping down after 44 years at The Entertainer and future profits will be shared by the workers under the new structure. Amersham, Bucks, and built an empire of 160 shops and 1,000 concessions in retailers like Tesco and Marks & Spencer. He said: 'This is a significant decision and one we haven't taken lightly.' M&S CLICKING 3 Marks and Spencer has restored full online services after it cyber attack disruption Credit: Alamy MARKS AND SPENCER has restored its full online services almost four months after it was crippled by a cyber attack. Its click and collect service, which stopped functioning in April, is now working. Customers can now also return items bought via the web to stores, M&S said yesterday. Click and collect is the last major area to have been reinstated following the computer blitz over Easter. ICELAND HIKE 3 Price hikes are coming to Iceland stores over the coming month, with the Government's tax raids on firms being blamed Credit: Alamy ICELAND says it will be forced to raise food prices over the next six months following the Government's tax raid on businesses. It blamed Chancellor Rachel Reeves' National Insurance and minimum wage hikes on rising supplier costs. It comes just months after Iceland's boss Richard Walker said companies should stop 'wallowing' and complaining about the measures in the Autumn Budget.
The Independent
2 days ago
- Business
- The Independent
Major retail chain to be put into an employee ownership trust
The Entertainer, the UK's largest toy retail chain, is transferring full ownership to an employee ownership trust. Founder Gary Grant opted for the employee ownership model to preserve the company's values and benefit its 1,900 workers. Under the new structure, employees will receive tax-free bonuses from company performance-related profits and gain a voice through an advisory board. The Grant family will be paid for their ownership stake over time from company profits, with staff expected to see the first rewards by January 2027. The company, which reported £6.7m in pre-tax profits last year, operates 160 stores and maintains partnerships with retailers such as M&S and Tesco.
STV News
2 days ago
- Business
- STV News
British toy shop chain The Entertainer hands ownership to its 1,900 staff
One of the UK's biggest toy chains is set to become employee-owned after the founders said they were handing over control to the group's 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
Sky News
2 days ago
- Business
- Sky News
UK's biggest independent toy shop chain given to employees
The UK's biggest independent toy retailer is being taken from private ownership and will be owned by its employees, who will share in the company's profits. The founder of The Entertainer chain, Gary Grant, is putting the future of the business in the control of its 1,900 employees. The company operates more than 160 shops as well as concessions in Tesco, Matalan and M&S. As a result of the ownership changes, employees will be rewarded through tax-free bonuses based on the profits generated in the future. Direction of the company will be overseen by a three-person trust, one of whom will be a representative of the staff board. That trust will own 100% of the company. Current shareholders, the Grant family, will be compensated for the sale of their stake from future profits of the business. It's being done to ensure the business, which also owns the Early Learning Centre and Addo Play, remains independent and to preserve the family legacy and feel of the business. 'A growing trend' It's part of what's being described by the chief executive of the Employee Ownership Association, James de la Vingne, as a "growing trend" for retailers. "We're seeing a growing trend for retailers making the move to employee ownership alongside calls to help save the high street," he said. Other businesses operating such a model include the John Lewis Partnership, home entertainment retailer Richer Sounds, and outdoor adventure company Go Ape. "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," Mr de la Vingne added. What is The Entertainer? The company was founded in 1981 in Buckinghamshire by Gary and Catherine Grant. It's also a designer, sourcer, developer and wholesaler of toys across multiple international markets.
Wales Online
2 days ago
- Business
- Wales Online
The Entertainer makes major announcement on future of 160 shops
The Entertainer makes major announcement on future of 160 shops Gary Grant, who opened the first store with his wife Catherine 44 years ago, called it a 'momentous day' The Entertainer will share profits amongst workers under the new structure (Image: The Entertainer/PA) One of the UK's biggest toy chains is set to become employee-owned after the founders said they were handing over control to the group's 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. The Entertainer shops do not open on Sundays as part of the company's Christian ethos (Image: The Entertainer/PA) 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. Article continues below 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.
