Gary Grant, the founder and executive chairman of The Entertainer, has announced he is handing over full ownership of the multi-million pound toy chain to his employees.
According to reports, the 66-year-old, who opened the business’s first shop with his wife Catherine in 1981, is transferring 100% of the company into an employee ownership trust, giving around 1,900 staff a direct stake in the future of the retailer.
Market and business experts have labelled the move as a very bold step for Gran, who has built the empire from a single store in Amersham to a high street mainstay with 160 shops across the UK. Hence, his decision to hand over the reins marks a significant shift.
Who Is Gary Grant?
When Gary Grant opened his first store with his wife Catherine, he had no background in toys, but gradually he built an empire of more than 150 shops across the UK.
The Entertainer’s Facebook
According to reports, Grant is a devout Christian, and his faith visibly influences how he runs the company. For example, The Entertainer doesn’t open on Sundays and avoids selling toys with supernatural themes. The business also donates 10% of its profits to charity.
Additionally, Grant is also known for valuing his staff, with many employees having worked at the company for more than 20 years. This dedication to his team is evident in his decision to transfer full ownership to an employee trust, giving workers a share in profits and a voice in running the company.
Although stepping back from daily management, Grant plans to focus on charity work and spending time with family.
Staff Says The Move is ‘A Typical Gary Thing To Do’
Meanwhile, employees at The Entertainer have reacted positively to the development. Jess Payne, who has worked at the company for a decade, called the move ‘really brave and really exciting for us.’ She added, ‘To know that officially what we say matters and we can contribute to the future success of the business is really exciting.’
The Entertainer’s Instagram
Lee Adlam, another long-serving employee, said the decision is ‘just a typical Gary thing to do,’ describing him as someone who has ‘always had employees at heart and their best interest at heart.’
Steady Hands and Succession Planning
According to reports, two years ago, the Grants appointed their first external chief executive, Andrew Murphy, formerly of the John Lewis Partnership. Hence, Murphy will now lead the business with his senior team after the transfer completes in September.
‘It’s a huge responsibility to continue the legacy and not just deliver success but do it in a way which they (the family) would be proud,’ Murphy told the BBC.
He acknowledged the challenges of employee ownership, including limited access to external capital, but said the company is in strong financial health and carries no long-term debt.
What’s Next for Gary Grant?
With the handover of The Entertainer set to be completed next month, Gary Grant is preparing to step back from the business he has built over 44 years. ‘It will be a bit like turning off the computer,’ he said, reflecting on the transition after decades at the helm.
The Entertainer’s Facebook
Grant confirmed he will have no operational involvement going forward but remains optimistic about the company’s future. ‘I’m not sad with the way that we’re leaving the business to go on from strength to strength… it’s nice. It’s in strong financial health.’
As for what comes next, he plans to focus on family and charity work. ‘I’ve got ten grandchildren. I’ve bought myself a narrowboat. I’m really heavily involved in charitable work,’ he said.
One of his main priorities is a large-scale community project. While discussing that, he said, ‘I’ve got a really big project that I want to really throw myself into. I’ve got to raise some £4 million for the complete conversion of a building into a community hub.’
Despite the emotional shift, Grant says the timing and decision feel right. ‘This is a momentous day. It feels like the right time.’
