Source: Employee Ownership Association
Company Name: School Trends
Number of pages: 2
Founder and Chair of School Trends, Peter Beeby, has always been committed to coownership principles and started to actively pursue employee share ownership with the death of his co-founder and friend in 1994. School Trends supplies school uniforms from its base in Sheffield and currently employs 150 staff, turning over £11 million in 2007.
Beeby established an employee share ownership trust in late 2004, funded through a contribution of company cash, a bank loan and a deferred consideration on the part of the existing shareholders (that is, they agreed to be paid off over a period of five years). Three quarters of the shares of the company were transferred into the trust and the remaining quarter continued to be owned individually by employees.
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