Schuh sale to Genisco sees staff share £37.3m windfall
Following the takeover of footwear brand Schuh yesterday by US firm Genisco, staff at the Scottish company are set to receive around £16,200 each.
The sale by the Livingston-based firm for £125m will see 2,310 staff share a windfall of £37.3m as a result.
Both owners Colin Temple and Mark Crutchley will receive around £25m each from the sale of the company which generated £164m in sales last year.
The share of the money will be determined on the length of time each member of staff has worked at the company.