The UK's largest independent toy chain has made a landmark announcement, revealing its intention to transition ownership of the company to its employees.
The move, which is a form of employee ownership trust (EOT), is a growing trend among UK businesses.
The company stated that the decision was made to reward its loyal workforce and to secure the long-term future of the business.
An EOT ensures that the company is managed in the best interests of its employees, and it can also provide a tax-efficient way for business owners to sell their stake.
For the toy chain, the transition to employee ownership is expected to foster a stronger culture of collaboration and productivity, as employees will have a direct stake in the company's success.
The news is a positive story for the UK retail sector, which has faced a number of challenges in recent years.
It highlights an alternative business model that prioritizes the welfare of employees and long-term sustainability over short-term profits.
The move is also a testament to the company's commitment to its workforce and its desire to create a more equitable and resilient business.
Poundland plans to close up to 68 stores in 2025 following financial difficulties and restructuring.
UK retail stocks, including major names like Associated British Foods (Primark) and Kingfisher, experienced a sell-off following a bearish note from Deutsche Bank about a slowdown in discretionary spending.
Fishing tackle and equipment retailer Angling Direct has reported a stronger-than-expected first-half trading performance, boosted by a solid UK performance.
Revolution Beauty has issued a profit warning, stating that its adjusted EBITDA will be lower than expected after a revision to its stock provisions.
Revolution Beauty has issued a profit warning, stating that its adjusted EBITDA for the last financial year will be significantly lower than initially forecast.
Fast-fashion company Shein is reportedly exploring a listing in Hong Kong as its London IPO plans face significant political and regulatory scrutiny.
Fast-fashion company Shein is reportedly exploring a listing in Hong Kong, as its plans for a potential London IPO face significant regulatory and political challenges.
Shares in JD Sports surged after Deutsche Bank raised its price target on the stock, citing the company's strong performance and growth potential.
An analysis suggests that Asda is struggling and 'misfiring' in the ongoing price competition among UK supermarkets, losing ground to its rivals.
Recent market data shows that the discounter supermarket Lidl is closing in on Morrisons, threatening to displace it as the UK's fifth-biggest supermarket.
Recent market data shows that the discounter supermarket Lidl is closing in on Morrisons, threatening to displace it as the UK's fifth-biggest supermarket.
Property firm British Land has reported strong occupancy rates in its retail parks, a positive sign for the company and the broader retail sector.
Mike Ashley, the founder of Boohoo, has reportedly called for a formal investigation into a debt collection agency, reigniting a long-running dispute.
The chairman of fast-fashion giant Shein has reiterated the company's desire to become a publicly listed company, even as its IPO plans face scrutiny.
Marks & Spencer has finally restored its click and collect service, months after a cyberattack on a third-party partner forced its suspension.
Dr Martens has reported a slide in profits but has stated that it remains on track for a return to growth in the coming year.
High street fashion retailer River Island has had its restructuring plan approved by a High Court judge, a move that will allow it to close stores and renegotiate rents.
A UK parliamentary committee has launched an investigation into the potential London IPO of fast-fashion giant Shein, raising concerns over its business practices.
UK high street bookseller Waterstones has secured a £125 million syndicated financing package, providing the capital for its future growth.
UK bookseller Waterstones has secured a £125 million syndicated financing package to fuel its future growth and expansion plans.
The fast-fashion giant’s UK sales hit $2.8bn in 2024, highlighting continued pressure on legacy apparel retailers.
US investment firm Carlyle is reportedly preparing to seize control of the UK online retailer Very Group, ending the long-standing ownership of the Barclay family.
Sainsbury's has announced it will close seven of its supermarkets as part of a strategic plan to reduce costs and focus on its most profitable locations.
High street retailer River Island has been saved from administration after a High Court judge approved its restructuring plan.
Lingerie retailer Ann Summers is implementing bodycams for staff in response to a rise in retail crime.
British retailer Next has once again raised its sales and profit forecasts following a robust second-quarter performance.
Co-op is introducing a new concept of 'food-for-now' micro stores in high-footfall locations across the UK.
Pets at Home has reduced its full-year profit forecast due to weaker-than-expected trading in the pet retail market.
UK retailers have cautioned that potential tax increases proposed by Shadow Chancellor Rachel Reeves could lead to higher prices for consumers and job losses.
Property giant Hammerson has acquired full ownership of the Bullring and Grand Central shopping centres in Birmingham for £319 million.
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