A DUNDEE shopfitting company has adopted an employee ownership model, giving its 50 staff the chance to take a stake in the business.
The move by Bentleys Shopfitting takes to 79 the number of employee owned businesses in Scotland, generating a combined £900 million in revenue.
Bentleys is expecting turnover to push beyond £8m this year, and its three directors said the new model was in the long-term interests of the business.
“We wanted a succession plan which would allow us to continue in the business over a period of years whilst supporting a management team that will drive the business,” said managing director Alan Walker.
“The involvement of all employees in the ownership of the business will be a major boost going forward. In addition to our 50 staff we have a network of local suppliers and subcontractors who rely on our business. Other options were considered but the priority of the board was to ensure the business remained local.”
An employee ownership trust will buy the shares from the shareholders and hold these on behalf of the employees while tax incentives will be available for those who choose to invest.
Bentleys was supported in its transition to employee ownership by Co-operative Development Scotland (CDS), an arm of Scottish Enterprise.
Established in 1987, Bentley’s has evolved from the retail sector to take on notable projects including The Old Course Hotel, Gleneagles, and the Balmoral and Sheraton Grand hotels in Edinburgh.
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