The Works (retailer)

TheWorks.co.uk PLC, trading simply as The Works, is a discount retailer based in the United Kingdom, selling an extensive range of books, art and craft materials, gifts, toys, games and stationery. It has over five hundred stores, across the United Kingdom and Ireland.[4]

A Store in Meadowhall Shopping Centre in Sheffield
The Works
IndustryRetail
Founded1981 (1981)
HeadquartersColeshill
England [1]
Number of locations
530 (stores) [1]
Area served
United Kingdom
Ireland
Key people

Gavin Peck (Group CEO) [2]
Revenue £217.5 million 18/19 [3]
OwnerDean Hoyle (15%)
Websitewww.theworks.co.uk

History

The company was founded in 1981, by Mike and Jenny Crossley, as Remainders Limited, a discount bookstore. The Works stores are categorised into five product “zones”: Kids (toys, games etc.), Arts & Craft, Stationery, Family Gifts, and Seasonal/Regional, which includes a selection of local interest, and tourist specific ranges. TheWorks.co.uk, the company's first e commerce platform, was launched in January 2012.

The company’s loyalty card scheme, Together, was launched in October 2013, and had reached one million members, by December 2016.[5][6]

Expansion and Ownership

The Works acquired twenty six outlets, of the chains Bargain Books and Bookworld in March 2007, after their parent company went into administration.[7][8] The Works itself entered administration in January 2008,[9] and in May 2008, the business was subsequently purchased by the private equity firm, Endless.[10] Hoyle became chairman of the discount retailer, after a “sizeable cash investment”, in July 2015.[11]

It was announced in July 2018, that The Works, approximately a third owned by Hoyle, would have an IPO, and the valuation of £100 million.[12] Hoyle retained the largest shareholding of 15%, after the flotation.

See also

References
  1. "About Us - The Works". www.theworks.co.uk.
  2. "Gavin Peck - The Works". www.theworks.co.uk.
  3. "Financials - The Works" (PDF). www.theworks.co.uk.
  4. "Stores - The Works". www.theworks.co.uk.
  5. "The Works launches loyalty card scheme in 'value sector first'". retail-week.com. 16 October 2013. Retrieved 15 September 2020.
  6. "Our journey- The Works". www.theworks.co.uk.
  7. "The Works buys Bookworld owner out of administration". www.business-sale.com.
  8. "Book company sale saves 160 jobs". 29 March 2007 – via news.bbc.co.uk.
  9. The Works goes into administration | The Bookseller
  10. "The Works | Endless LLP". www.endlessllp.com. Retrieved 2016-12-30.
  11. "CARD FACTORY FOUNDER, DEAN HOYLE, JOINS THE WORKS AS CHAIRMAN". endlessllp.com. 13 July 2015. Retrieved 19 March 2019.
  12. Booth, James (13 July 2018). "Private equity-backed retailer The Works launches £100m London float". Retrieved 16 July 2018.
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