Corey Rosen
British Retailer the John Lewis Partnership Explores Moving Away from 100% Employee Ownership
The John Lewis Partnership, an iconic British retailer, is considering outside investors for the first time, a move that would dilute its 100% ownership through an employee ownership trust. John Lewis operates the John Lewis & Partners department store chain (34 stores) and Waitrose supermarkets (332 stores) and has 80,000 employees. The company had a loss of £78 million last year, and faced even tougher years during the peak of the COVID-19 pandemic. Inflation, a weaker British economy, and supply chain issues have added to ongoing problems.