The Works (retailer)

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The Works
IndustryRetail
Founded1981; 41 years ago (1981)
HeadquartersColeshill, England [1]
Number of locations
530 (stores) [1]
Area served
United Kingdom
Ireland
Key people

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

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 as of January 2022.[4]

The Works in Meadowhall Shopping Centre in Sheffield (August 2019)

History[]

The company was founded in 1981 by Mike and Jenny Crossley as discount bookstore Remainders Limited. Stores of The Works 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] The business was subsequently purchased by the private equity firm Endless in May 2008.[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 initial public offering and a valuation of £100 million.[12] Hoyle retained the largest shareholding of 15% after the flotation.

See also[]

References[]

  1. ^ a b "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. 30 March 2007. Retrieved 19 March 2019.
  8. ^ "Book company sale saves 160 jobs". bbc.co.uk. 29 March 2007. Retrieved 19 March 2019 – via news.bbc.co.uk.
  9. ^ "The Works goes into administration". thebookseller.com. 1 February 2008. Retrieved 2 June 2021.
  10. ^ "The Works | Endless LLP". www.endlessllp.com. May 2008. Retrieved 30 December 2016.
  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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