AFTER the trials of the last 15 months, during which many people have gone above and beyond the call of duty to help employers keep the show on the road, a little recognition for staff would surely go a long way. The fall-out from the pandemic has sadly meant many companies have failed, while others, amid ongoing restrictions, are hanging on to their survival by a thread. But there are many businesses which have prospered, perhaps because of the digital nature of their models that ensured they thrived during lockdown, or at the very least have kept their operations on an even keel.
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The accountancy practice mergers and acquisitions market has been extremely active over the past 12 months or so, indeed since the Chancellor’s Budget announcement in March we have seen an increase in practice owners looking to engage our services to assist them with their exit plans. This increase in activity has been accelerated due to the combination of circumstances arising from the pandemic, where owners who were considering retirement are now expediting those plans because of the lack of energy to rebuild, in what has been one of the most intense times for accountants up and down the UK.
Alongside the pandemic, there has been an underlying issue that has been bubbling away for the last few years, and this is the struggle for practice owners or partners to put in place a workable and suitable succession plan. There are of course many variables and factors which come in to play with succession planning; sometimes this is down to the ability to attract the right talent to small
Park Cameras now employee-owned, reports strong sales despite lockdowns
May 11, 2021
Park Cameras has passed on the reins of its business to its team following the sale of investors shares to employees. The company, established 50 years ago by industry veteran Reg Atkins with just £500 in the bank, is now an Employee Ownership Trust (EOT).
Park’s London store employees
“Our family of employees are the heart and soul of the business and I’m extremely proud of every single one of them,” said current managing director, Roscoe Atkins. “The EOT will give us the chance to unlock value within the company and enable the team to become more invested both financially and emotionally in the business, whilst ensuring we never lose sight of what Park Cameras is renowned for.”
Mark Januszewski
A home, kitchen and garden eCommerce company with a warehouse in Middleton is now owned by its employees.
After a record-breaking year, DOMU Brand’s co-founders Mark Januszewski and Craig Foster have put the 11-year-old business into an Employee Ownership Trust (EOT).
The company, which is better known for its brands VonHaus, VonShef and BTFY, has a head office in Manchester and a warehouse in Stakehill Industrial Estate.
DOMU grew turnover to around £75m in 2020 and Mr Januszewski said now was the right time to change the ownership structure.
He said: “Craig and I had explored other possible transactions in the past, however they didn t feel right for DOMU Brands at this moment in time.
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