Chain joins John Lewis in employee ownership as staff get £1,000 for each year they have workedThe founder of Richer Sounds is handing control of the hi-fi and TV retail chain to staff, in a move that will also give employees large cash bonuses. The Employee Ownership Association (EOA) says more than 350 businesses have now adopted the model, with at least 50 more preparing to follow suit. Facebook Twitter Pinterest Richer Sounds has 53 stores, including this outlet in Bromley. Richer and the retailer’s chairman David Robinson are two of four trustees of the newly established Richer Sounds Trust. Shares can be held by individuals or collectively through an employee trust – or a mixture of both.

Source: The Guardian May 14, 2019 08:48 UTC