Owners of stricken construction firm sold majority stake to staff months before collapse
The owners of Walsall construction group Shaylor Group sold more than half of the company to its staff just months before it collapsed into administration with the loss of 200 jobs.
In documents filed at Companies House, 55% of the group’s holding company was purchased by an Employee Ownership Trust (EOT), an indirect form of employee ownership in which a trust holds a controlling stake in a company on behalf of all its employees and provides an incentive for owners to sell a controlling stake in their business.
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