The Works
The Works is a United Kingdom discount retailer offering books, arts and crafts materials, stationery, toys, games, gifts and seasonal merchandise.
Last updated August 31, 2026
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Overview
The Works is a British discount retailer whose roots lie in the sale of remaindered books. Mike and Jane Crossley began the business from their home in 1981, establishing it as Remainders Limited. The company opened its first shop in Halesowen in 1984 and expanded steadily during the following two decades. By the late 1990s it had developed a substantial store estate and operated from a purpose-built distribution base at Minworth, opened in 1999. Its offer initially centred on discounted books, but the business gradually broadened into a general value retailer covering children's products, arts and crafts, stationery, gifts, toys and games. A significant stage in the early expansion came in 2001, when the company acquired 19 stores from failed retailer First Stop Stationery. These outlets were converted to The Works brand, while the group's factory-shop format continued to use the Book Depot name at that time. The business had grown to more than 160 shops by the early 2000s and employed approximately 1,200 people, with reported turnover of about £60 million. The Crossleys sold the company to a management buyout in 2003, when it had 176 stores, around 1,500 employees and reported turnover of approximately £70 million. The subsequent period was marked by financial difficulty and changes in ownership. Hermes Private Equity Partners acquired a substantial interest in a further management buyout in 2005. Expansion plans were later abandoned, and the company reported large accumulated losses. In 2007, The Works acquired 26 outlets from the Bargain Books and Bookworld chains after their parent company entered administration. The Works itself entered administration in January 2008, with liabilities substantially exceeding its assets. Administrators closed loss-making locations and reduced the workforce. Endless, together with Anthony Solomon, acquired and rescued the operating business in 2008 for a reported £15 million. Under the post-administration management team, including managing director Bob Lister, the retailer began rebuilding its store network. Some locations reopened, while new shops were added on different sites. The company reported sales of £88.8 million for 2008/09 and had increased its outlet count to approximately 260 by July 2010. It was subsequently prepared for another sale process. In 2015, Hoyle became chairman after making a substantial cash investment. The company announced plans for a flotation in 2018, with an indicated valuation of approximately £100 million; Hoyle retained the largest individual shareholding after the offering, according to the supplied reference. The Works has operated both physical shops and an online channel. Its first e-commerce platform, TheWorks.co.uk, launched in January 2012. Stores are organised around five broad merchandise zones: Kids; Arts and Craft; Stationery; Family Gifts; and Seasonal/Regional, the last of which can include local-interest and tourist-oriented ranges. The Together loyalty scheme launched in 2013 and had reached one million members by the end of 2016, before being closed in March 2024. The brand's retail proposition is built around accessible prices, frequent discovery and a wide assortment rather than a narrow specialist category. Its product mix allows it to serve families, hobbyists, students, gift buyers and readers in the same store. The supplied Wikipedia reference describes the chain as having more than 500 stores across the United Kingdom and Ireland as of August 2026. The precise current corporate ownership, listing details and present executive leadership are not established by the supplied material.
History
The Works began in 1981 when Mike and Jane Crossley started selling remaindered books from their front room. They incorporated the venture as Remainders Limited and opened their first shop in Halesowen in 1984. During the next 16 years the business expanded to more than 160 shops in the United Kingdom and Ireland. A purpose-built base at Minworth opened in 1999, by which time the company reported turnover of approximately £60 million and employed about 1,200 people. In 2001, the company bought 19 stores from failed retailer First Stop Stationery. These shops were converted to The Works brand, helping establish the name as the group's principal high-street format. The Crossleys sold the company through a management buyout in 2003. At that point the chain had 176 stores, around 1,500 employees and reported annual turnover of approximately £70 million. Terry Norris became chairman under the new ownership structure, which was backed by Primary Capital. The business later experienced financial pressure. Hermes Private Equity Partners acquired a 79% interest in another management buyout in 2005. Expansion plans were abandoned in 2007 after substantial losses, although the retailer also acquired 26 Bargain Books and Bookworld outlets that year. The Works entered administration in January 2008. Administrators reported liabilities of more than £79.5 million against assets of about £6.6 million, closed 85 of the 317 stores and reduced the workforce by more than one quarter. Endless and Anthony Solomon acquired the business in 2008 for a reported £15 million. The chain continued with approximately 226 stores and reported turnover of around £100 million at the time of the rescue. Bob Lister became managing director, and the business began restoring its estate through reopened shops and new locations. Sales for 2008/09 were reported at £88.8 million, and the store count had recovered to approximately 260 by July 2010. The company continued developing its multi-category discount format, moving beyond books into arts and crafts, stationery, toys, games, gifts and seasonal goods. Its first online shop launched in January 2012. The Together loyalty programme followed in 2013 and had one million members by the end of 2016. Hoyle became chairman after a significant cash investment in 2015. In 2018, the company announced an initial public offering at an indicated valuation of approximately £100 million; the supplied reference says Hoyle retained the largest individual shareholding after the flotation. The Works organises its physical stores into five broad zones: Kids; Arts and Craft; Stationery; Family Gifts; and Seasonal/Regional. The final zone can include local-interest and tourist merchandise. The Together programme closed in March 2024. The supplied reference describes the retailer as having more than 500 stores across the United Kingdom and Ireland as of August 2026. Detailed current leadership, ownership and listing information is not established in the supplied material.
- 2024
Together scheme closes
[1]The loyalty card programme was discontinued in March.
- 2018
Initial public offering announced
[1]The company announced plans to float with an indicated valuation of approximately £100 million.
- 2013
Together loyalty programme launches
[1]The retailer launched the Together loyalty card scheme.
- 2012
E-commerce platform launches
[1]TheWorks.co.uk became the company's first e-commerce platform.
- 2008
Administration and rescue
[1]The Works entered administration and was subsequently acquired by Endless and Anthony Solomon.
- 2003
Management buyout
[1]The Crossleys sold Remainders Limited through a management buyout backed by Primary Capital.
- 2001
First Stop Stationery acquisition
[1]Nineteen stores were acquired and converted to The Works brand locations.
- 1999
Minworth operating base opens
[1]The company opened a purpose-built base at Minworth during a period of rapid store growth.
- 1984
First shop opens in Halesowen
[1]The company opened its first retail shop as it began expanding beyond its original home-based operation.
- 1981
Business founded as Remainders Limited
[1]Mike and Jane Crossley began selling remaindered books, initially operating from their home.
Products and positioning
A value-oriented, multi-category retailer combining discounted books with accessible arts, crafts, stationery, toys, games, gifts and seasonal products. The format emphasises broad choice, family relevance and impulse discovery across physical stores and e-commerce.
Books · 1981
Books
Books are the retailer's historic core category, reflecting its origins as a remaindered-book business. The range is positioned around discount purchasing and can include general reading, children's titles and other popular book categories.
Arts and crafts
Arts and crafts
Arts and crafts products form one of the store's principal merchandise zones. The category serves hobbyists, families and creative projects with accessible materials and related supplies.
Toys and games
Kids
The Kids zone includes toys, games and other children's products. It supports the retailer's family-oriented positioning and provides a broad, value-focused assortment rather than a single specialist toy format.
Stationery
Stationery
Stationery is a dedicated product zone covering everyday writing, paper and school or office-related items. The category complements the retailer's book, craft and family offer.
Gifts
Family Gifts
Family Gifts is one of the chain's five store zones. It provides gift-oriented merchandise intended for different ages and occasions, supporting browsing and impulse purchases alongside books and children's products.
Seasonal and regional retail
Seasonal and regional merchandise
The Seasonal/Regional zone changes with the calendar and location. It can include seasonal ranges as well as local-interest and tourist-specific products tailored to particular communities or destinations.
Brand decisions
2018
Preparation for public flotationStrategyBackground
After a period of ownership changes and operational recovery, the company announced plans to seek a public listing.
Action taken
The Works announced an initial public offering at an indicated valuation of approximately £100 million.
Aftermath
The supplied source states that Hoyle retained the largest individual shareholding after the flotation.
Indicated valuation. Approximately £100 million (2018)
2012
Launch of TheWorks.co.ukProduct launchBackground
The retailer sought to extend its store-based discount offer into online retail.
Action taken
The Works launched its first e-commerce platform, TheWorks.co.uk.
Aftermath
The brand gained an online sales channel alongside its physical shops.
2008
Rescue and post-administration restructuringStrategyBackground
The Works entered administration after substantial financial distress, with liabilities reported to be much greater than assets and numerous stores operating at a loss.
Action taken
Endless and Anthony Solomon acquired the operating business. Administrators closed loss-making stores, while the new owners appointed Bob Lister as managing director and began rebuilding the estate.
Aftermath
The chain continued trading with a smaller store base and subsequently reopened some locations and added new sites.
Reported liabilities and assets at administration. Liabilities greater than £79.5 million; assets approximately £6.6 million → Acquisition price reported at £15 million (January-June 2008)
Recent events
- Unconfirmed
Reported
The Works offers 40% off 40 products[3]
The Works is offering 40% off 40 products online and in stores as part of its 40th-anniversary offers. The offers are available until September 12.
- Unconfirmed
Reported
Aware Super launches brand campaign[4]
Aware Super launched its first integrated brand campaign since rebranding from First State Super. The campaign was created by The Works and focuses on the role of Aware Super members in their communities.
- Unconfirmed
Reported
The Works opens a store at Brunel Centre[5]
The Works opened a new store in the Brunel Shopping Centre in Swindon.
Sources5 sources
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