Salem Radio Network News Wednesday, March 22, 2023


UK’s John Lewis eyes end of 100% staff ownership – The Times

(Reuters) – British retailer John Lewis, which has been 100% owned by its staff, is considering diluting its partnership structure, The Times reported on Saturday.

The chairperson, Dame Sharon White, is in early stages of exploring a plan to change the retailer’s mutual structure so it can try to raise between 1 billion and 2 billion pounds ($1.22 billion-$2.44 billion) of new investment, the report added.

John Lewis did not reply to a request from Reuters for comment.

($1 = 0.8214 pounds)

(Reporting by Urvi Dugar in Bengaluru; Editing by Peter Graff)


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