Employee Owned – Built Together
Bridgford Interiors have announced to employees on the 22nd April 2022 they are in the process of transitioning to become a 100% employee-owned business run through an Employee Ownership Trust (EOT) to put the Midlands based specialist interior fit out business into the hands of the team of people who work for it, and making them the direct beneficiaries of the company’s future success.
The decision to transition to be an employee-owned business was driven by the desire to sustain the company’s independence and recognition of the fact that the company was built through the hard efforts of its employees, a move designed to position the company for long-term success by empowering employees.
Employee ownership, pioneered by the John Lewis Partnership has rocketed in popularity in the last decade and more recently by companies such as Richer Sounds and Aardman Animation. Studies have shown that employee-owned firms are also more resilient and are proven to weather economic cycles better than most.
“By passing on the business to the employees, we feel that we are not only looking after them, but also looking after the interests of our loyal customers. Our clients have come to have high expectations of Bridgford’s, at many levels, and we would not want them to be disappointed. This is our best shot at continuing our guiding principles.”
The establishment of employee ownership through the EOT will provide continued a longer, brighter future with job security for all staff and will also enable the employees to have collective control of their own destiny.