Quaintance-Weaver Restaurants and Hotels is now owned by employees
Fox8 News | November 17, 2016
GREENSBORO, N.C. — The founders of Quaintance-Weaver Restaurants and Hotels announced Thursday that the company is now 100 percent owned by its staff members, a news release said.
Dennis and Nancy King Quaintance will continue to lead the company and guests will not see any changes at their six restaurant and hotel locations: O. Henry Hotel, Green Valley Grill, Proximity Hotel, Print Works Bistro and two Lucky 32 Southern Kitchen.
“Co-founders Mike Weaver, Nancy King Quaintance and I like to think long term, not just months or years out, but decades ahead,” said Dennis Quaintance, company CEO. We’ve sold our interest in QW to the QW ESOP Trust because we believe that it’s the optimal way for QW to be owned and managed in the future.”
With the Employee Stock Ownership Plan, workers who are above the age of 18 and work at least 20 hours a week will start accruing retirement benefits after one year. After three years, employees will become fully vested.
“With this program, all of us who work here will have even more reasons to take great care of our guests and colleagues. That ought to make QW even healthier and keep it vibrant for decades to come,” Quaintance said.