by Tola Mbakwe, Premier
Christian businessman Gary Grant, founder of The Entertainer toy shop chain, is handing over ownership of his business to the 1,900 staff who helped build it.
After nearly five decades in retail and 33 years as a committed Christian, Grant has transferred 100 per cent of the company’s shares, previously held by himself, his wife and their four children, into an Employee Ownership Trust (EOT). This means the business will now be run for the benefit of its staff, who will eventually share in the company’s profits through tax-free bonuses.
Grant said the decision followed years of prayer and planning, particularly after the challenges of Covid-19. “The family and I have been discussing our exit plan for probably five years,” he explained. “Our business is only as successful as our staff. As I have lived out my faith through running the business, I have always wanted our business to be a good witness. I believe businesses can be a force for good, and handing the business over to the staff so they can benefit in its profits is a fantastic legacy.”