The directors of the Chesham-based manufacturer of printed balloons, flags, bunting and promotional products manufacturer, have announced plans which saw the firm’s employees take ownership of the business on 10 February.
As an Employee Owned Trust (EOT), B-Loony’s employees will have a stake in the success of the business, with a say in its direction and an opportunity to share in its profits. Key to their decision was safeguarding the culture and values of the business for the benefit of their loyal and long-serving employees.
This historic transition marks a new chapter in B-Loony’s 45-year history and it is hoped will bring significant benefits for customers, employees, and the local community in Chesham providing jobs and contributing to the local economy.
In a statement on behalf of directors Andy MacInnes, Mike Cussell and James Clephan, Andy said: “Becoming an Employee Owned Trust in a natural next step for B-Loony. Our employees have been the backbone of the company for 45 years, many of them long serving, and we believe that giving them a stake in the business will only strengthen our commitment to excellence.
“B-Loony has been creating lots of fun experiences for customers’ events, supplying printed balloons, flags, bunting and top-quality promotional products for over four decades. By setting up an EOT, we maintain our unique B-Loony brand identity, protect the jobs of our exployees adn give them an incentive in the future growth of the business.
“We’re really excited about this new opportunity for B-Loony and the benefits it will bring for our employees, customers, and the local community.”
Structurally, little will change in the day-to-day running of the business with the directors and existing senior management team continuing to run the business while maintaining the same close relationships with customers and suppliers.
