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Sick of seeing our shelves full of Beatles and Bob Marley LPs with no record player upon which to play them, our son visited Hi-Fi emporium Richer Sounds to buy us one. On finding it didn’t work he returned it to the nearest branch where they realised he’Employee-owned companies resisted by banks, lawyers and governments
Sick of seeing our shelves full of Beatles and Bob Marley LPs with no record player upon which to play them, our son visited Hi-Fi emporium Richer Sounds to buy us one. On finding it didn’t work he returned it to the nearest branch where they realised he’d been given the wrong cable, supplied the correct cable, issued a refund, and explained clearly how to set it up. If someone had asked me who should be running the company, the assistant serving us would have deserved consideration. News that Julian Richer has now passed ownership of his company into an employee-owned partnership, like that used at John Lewis, it so happens that that able shop assistant has in a way come to be his own boss. Most (60%) of the company’s shares will be placed in an employee ownership trust, with its 522 employees at 53 stores around the UK set to receive a share of a £3.5m payout. Richer has passed running the business to the management board, which will be advised by a newly arranged advisory council made up of current staff. Julian Richer, who after turning 60 has handed 60% of his company to an employee-owned trust. Mick Atkins/Shutterstock At the John Lewis Partnership (which includes... Read more