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.”
Under the EOT model, all shares from the six shareholders, which include Grant, his wife and their four children, have been transferred into a trust which will now own the company. “As the company makes profits those profits can now be distributed between the outgoing shareholders and the staff,” Grant said. “It will take a few years for this mechanism to really get going, but within a year or two, there will be some tax free bonuses to all of the staff the company employs.”
Staff reaction has been positive. “From the communications I have had from so many of our staff colleagues this morning, they are really excited about the prospect of being co owners,” Grant said.
“People now feel like and behave like owners. Productivity increases, and because you have a colleague council where all colleagues can feed back ideas and concerns, everyone has a voice.”
Grant’s Christian faith has influenced major business decisions over the years, including a refusal to open on Sundays and careful consideration of what products to sell. “If our faith is about the way we live our lives, it is not about what we do on a Sunday. It is how we live for the whole seven days,” he said. “How can we, as Christians, in a relevant way, be salt and light in the workplace?”
He points to 1 Samuel 2:30, which says: "Those who honour me, I will honour", as a guiding principle. “It has never been about making the most money,” he said. “Maybe we have lost a pound on one hand but gained two on another. What is relevant is doing the right thing, being consistent in how we live out our faith. I have wanted to be, for my staff and for the wider public, a good witness in the way we have chosen to run our business.”
Despite handing over ownership, Grant is far from stepping away from an active life. “I am not retiring. I am too energetic to retire,” he said.
Instead, he plans to focus more time on Restore Hope, the Buckinghamshire charity he and his wife founded 20 years ago. The organisation supports children, families and young people, helping them overcome challenges, develop life skills and restore relationships. Its latest project is a £4m refurbishment of a former Methodist church to serve as a community hub, addressing issues such as food poverty and youth mental health.
Restore Hope recently received the King’s Award for Voluntary Service in recognition of its 250 dedicated volunteers.
“We want to continue to be salt and light in our community,” Grant said. “Handing the business to our staff is one way to do that, but my mission to serve does not stop here.”