TheWorks.co.uk PLC, trading as The Works, is a discount retailer based in the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and ...

selling an extensive range of books, art and craft materials, gifts, toys, games and stationery. It has more than 500 stores across the UK and

Ireland Ireland ( ; ga, Éire ; Ulster-Scots: ) is an island in the North Atlantic Ocean, in north-western Europe. It is separated from Great Britain to its east by the North Channel, the Irish Sea, and St George's Channel. Ireland is the s ...

as of .

History

The company was founded in 1981 by Mike and Jenny Crossley as discount bookstore Remainders Limited. The Works stores are categorised into five product "zones": Kids (toys, games etc.), Arts and 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 2013, and had reached one million members by the end of 2016.

Expansion and ownership

The Works acquired 26 outlets of the Bargain Books and Bookworld chains in 2007 after their parent company went into

administration Administration may refer to: Management of organizations * Management, the act of directing people towards accomplishing a goal ** Administrative Assistant, traditionally known as a Secretary, or also known as an administrative officer, admini ...

. The Works itself entered administration in January 2008. The business was subsequently purchased by the private equity firm Endless in May 2008. Hoyle became chairman of the discount retailer after the "sizeable cash investment" in July 2015. It was announced in July 2018 that The Works, approximately one-third owned by Hoyle, would have an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...

and a valuation of £100 million. Hoyle retained the largest shareholding of 15% after the flotation.

References

Arts and crafts retailers Bookshops of the United Kingdom Retail companies established in 1981 Retail companies of the United Kingdom 2018 initial public offerings {{UK-retail-company-stub

History

Expansion and ownership

See also

References