The Entertainer, the UK’s largest toy shop chain, is set to become employee-owned after founder Gary Grant announced plans to transfer 100% of the family business to its 1,900 staff by the end of September.
The retailer – which also owns the Early Learning Centre and Addo toy brands – will be placed into an employee ownership trust (EOT), with the Grant family to be paid over time from future profits. The valuation of the business has not been disclosed.
Employees will benefit from tax-free bonuses linked to company performance, while a newly created employee advisory board will help shape the group’s future direction.
The move comes despite a challenging year for the business. Pre-tax profits fell 18% to £6.7 million in the year to 27 January 2024, with sales down 3.7% to £238.3 million. However, the family still took its first dividend since 2019 – a payout of £15.6 million.
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