(In the U.K) Entertainer founder hands over toy shop chain to staff

Gary Grant, founder of the UK’s biggest toy retailer, The Entertainer, is handing over 100% ownership of the business to its 1,900 staff. The 66-year-old, who opened his first store with his wife Catherine in 1981, is transferring the family-owned company into an employee ownership trust.

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This means employees will share in profits and have a say in the company’s future. The move follows over 40 years of growth, with 160 shops nationwide and partnerships with Tesco and Matalan. Grant said selling purely for money was not in line with the family’s values and hopes this transition will protect the company’s culture.

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The Entertainer made £6.7m in pre-tax profits in the year to January 2024, with most earnings coming before Christmas. While bonuses may not appear this year, Grant expects meaningful staff rewards from 2027. The company is debt-free, with former John Lewis Partnership executive Andrew Murphy set to take over full control next month.

The family’s Christian ethos remains central  stores close on Sundays and donate 10% of profits to charity. Nearly 400 staff have been with the firm for over a decade, and some for more than 20 years. Grant, who left school with one O level, says succession planning explored several exit routes before settling on employee ownership. 

He plans to spend more time with his 10 grandchildren and on charity work, confident the business is in strong health.