UK’s TOY SHOP FOUNDER TO HAND OVER TO STAFF – Gary Grant will transfer 100% ownership of family-owned business to employee trust
Christian businessman Gary Grant, founder of The Entertainer toy shop chain, has transferred full ownership of the company to the 1,900 staff through an Employee Ownership Trust (EOT).
After nearly 50 years in retail and 33 years as a committed Christian, Grant and his family moved all shares into the trust so employees can benefit from future profits via tax-free bonuses.
The decision came after years of prayer and planning, especially following the challenges of COVID-19.
Grant believes businesses can be a force for good and wanted to leave a legacy by sharing success with his staff.
Under the EOT model, the company is now owned collectively by the trust, which distributes profits between former shareholders and employees. Staff have responded positively, excited by the chance to become co-owners. Grant’s
Christian faith has guided his business choices, including closing on Sundays and focusing on ethical practices throughout the week.
