Staff celebrate taking ownership of popular Watkin's shop in Grantham

Staff are celebrating their takeover of a Grantham bakery and butchers which has been a popular shop in the town for 110 years.

Last week owner Richard Watkin handed over ownership of the business in Westgate to the 50 staff who work there.

The handover was made as part of an Employee Ownership Trust (EOT) which allows the staff to have a say in the running of the business and also have a share of the profits.

Mr Watkin, the fourth generation of the Watkin family which set up the business in 1912, said he wanted to secure its future and keep it in the town for many more years to come.

Members of staff at the shop welcomed the move and said there were no plans to make changes to the business which has enjoyed success for more than a century.

Linda Newell said: "I think it's brilliant. A lot of people have worked here a long time so they deserve it. We have a butcher out back who has been here for 47 years and I have been here 37 years.

"It's fantastic for all the staff and all the hard work that we do."

Lorraine Everton, who has worked at the shop for 20 years, said: "I think it's brilliant what Richard has done. The shop will carry on running as it has always done and that is what Richard wants to do."

Mr Watkin will continue to have a hand in the business as a member of the board of directors which includes three members of staff and an independent member.

He said the EOT was the best way of securing the future of the business which was originally set up by his great grandfather.

For some time there was a second shop in Market Place, but the business is now based on one site in Westgate.