The Works has admitted its entire share capital of 62.5 million ordinary shares to AIM, a market operated by the London Stock Exchange.

The shares at the retailer, which sells books, toys and arts and crafts products, are valued at a penny each.

The move is intended to allow the firm to trade on a more “appropriate market”, while saving costs and driving efficiencies.

AIM has seen £130bn raised by almost 4,000 companies, since its launch in 1995.

In a statement, chair at The Works, Carolyn Bradley, said: We are pleased that our move to AIM has now completed, meaning that The Works is now listed on a more appropriate market. We reiterate our confidence that this move will deliver a significant cost saving leading to increased value for shareholders. We would like to thank our shareholders for their continued support."

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