London Daily

Focus on the big picture.
Tuesday, Oct 28, 2025

John Lewis considers plan to change staff-owned structure

John Lewis considers plan to change staff-owned structure

John Lewis is considering a potential change to its employee-owned business structure, upending more than 70 years of tradition.
The group, which also owns Waitrose, is currently fully owned by its staff, who receive a share in the profits.

But in the face of tougher trading, the firm is said to be exploring the idea of selling a minority stake.

The Sunday Times, which first reported the move, said the firm hoped to raise up to £2bn.

It said the firm's chairwoman Dame Sharon White was considering a potential plan to dilute the famous partnership structure in order to invest in better technology, data analysis and Waitrose's supply chain.

The BBC has been told the idea is at the "very, very early stages" of discussion and may not eventually happen. However, if it did it would not amount to removing the mutual ownership structure altogether and that staff would retain majority control.

It could still prove controversial among staff, however, who jointly own the whole of the business, benefiting from any profits.

The profit-sharing model has occasionally resulted in big windfalls. In 2008 staff received a sum equivalent to about 10 weeks' pay as a bonus.

However in the past three years the firm has had to steer through the choppy waters of the pandemic and a cost of living crisis. It made a loss of £234m in 2022-3 and paid no bonus to staff, for only the second time since 1953. It has also closed stores and cut staff numbers.

John Lewis has worked with outside companies in the past: Ocado launched grocery deliveries for Waitrose and more recently it set up a joint venture to build residential properties with investment firm Abrdn. If the move were to go ahead, it would be the first sale of a stake in the core business.

At times the mutualised structure has been held up as model for how businesses could be run differently, taking a broader range of stakeholders into account and focusing less on shareholder profit.

When Sir Nick Clegg was deputy prime minister he heralded the group as a model for the whole economy.

John Lewis has not commented on the reports, but said: "We've always said we would seek partnerships to help fund our transformation and exciting growth plans.

"We've done this with Ocado in the past and now with Abrdn. Our partners, who own the business, will be the first to hear about any developments."
Newsletter

Related Articles

0:00
0:00
Close
UK Announces £1.08 Billion Budget for Offshore Wind Auction to Boost 2030 Capacity
UK Seeks Steel Alliance with EU and US to Counter China’s Over-Capacity
UK Struggles to Balance China as Both Strategic Threat and Valued Trading Partner
Argentina’s Markets Surge as Milei’s Party Secures Major Win
British Journalist Sami Hamdi Detained by U.S. Authorities After Visa Revocation Amid Israel-Gaza Commentary
King Charles Unveils UK’s First LGBT+ Armed Forces Memorial at National Memorial Arboretum
At ninety-two and re-elected: Paul Biya secures eighth term in Cameroon amid unrest
Racist Incidents Against UK Nurses Surge by 55%
UK Chancellor Rachel Reeves Cites Shared Concerns With Trump Administration as Foundation for Early US-UK Trade Deal
Essentra plc: A Closer Look at a UK ‘Penny Stock’ Opportunity Amid Market Weakness
U.S. and China Near Deal to Avert Rare-Earth Export Controls Ahead of Trump-Xi Summit
Justin time: Justin Herbert Shields Madison Beer with Impressive Reflex at Lakers Game
Russia’s President Putin Declares Burevestnik Nuclear Cruise Missile Ready for Deployment
Giuffre’s Memoir Alleges Maxwell Claimed Sexual Act with Clooney
House Republicans Move to Strip NYC Mayoral Front-Runner Zohran Mamdani of U.S. Citizenship
Record-High Spoiled Ballots Signal Voter Discontent in Ireland’s 2025 Presidential Election
Philippines’ Taal Volcano Erupts Overnight with 2.4 km Ash Plume
Albania’s Virtual AI 'Minister' Diella Set to 'Birth' Eighty-Three Digital Assistants for MPs
Tesla Unveils Vision for Optimus V3 as ‘Biggest Product of All Time’, Including Surgical Capabilities
Francis Ford Coppola Auctions Luxury Watches After Self-Financed Film Flop
Convicted Sex Offender Mistakenly Freed by UK Prison Service Arrested in London
United States and China Begin Constructive Trade Negotiations Ahead of Trump–Xi Summit
U.S. Treasury Sanctions Colombia’s President Gustavo Petro over Drug-Trafficking Allegations
Miss USA Crowns Nebraska’s Audrey Eckert Amid Leadership Overhaul
‘I Am Not Done’: Kamala Harris Signals Possible 2028 White House Run
NBA Faces Integrity Crisis After Mass Arrests in Gambling Scandal
Swift Heist at the Louvre Sees Eight French Crown Jewels Stolen in Under Seven Minutes
U.S. Halts Trade Talks with Canada After Ontario Ad Using Reagan Voice Triggers Diplomatic Fallout
Microsoft AI CEO: ‘We’re making an AI that you can trust your kids to use’ — but can Microsoft rebuild its own trust before fixing the industry’s?
China and Russia Deploy Seductive Espionage Networks to Infiltrate U.S. Tech Sector
Apple’s ‘iPhone Air’ Collapses After One Month — Another Major Misstep for the Tech Giant
Graham Potter Begins New Chapter as Sweden Head Coach on Short-Term Deal
Ecuadorian President Daniel Noboa Alleges Poison Plot via Chocolate and Jam
Lakestar to Halt External Fundraising as Investor in Revolut and Spotify
U.S. Innovation Ranking Under Scrutiny as China Leads Output Outputs but Ranks 10th
Three Men Arrested in London on Suspicion of Spying for Russia
Porsche Reverses EV Strategy as New CEO Bets on Petrol and Hybrids
Singapore’s Prime Minister Warns of ‘Messy’ Transition to Post-American Global Order
Andreessen Horowitz Sets Sights on Ten-Billion-Dollar Fund for Tech Surge
US Administration Under President Donald Trump Reportedly Lifts Ban on Ukraine’s Use of Storm Shadow Missiles Against Russia
‘Frightening’ First Night in Prison for Sarkozy: Inmates Riot and Shout ‘Little Nicolas’
White House Announces No Imminent Summit Between Trump and Putin
US and Qatar Warn EU of Trade and Energy Risks from Tough Climate Regulation
Apple Challenges EU Digital Markets Act Crackdown in Landmark Court Battle
Nicolas Sarkozy begins five-year prison term at La Santé in Paris
Japan stocks surge to record as Sanae Takaichi becomes Prime Minister
This Is How the 'Heist of the Century' Was Carried Out at the Louvre in Seven Minutes: France Humiliated as Crown with 2,000 Diamonds Vanishes
China Warns UK of ‘Consequences’ After Delay to London Embassy Approval
France’s Wealthy Shift Billions to Luxembourg and Switzerland Amid Tax and Political Turmoil
"Sniper Position": Observation Post Targeting 'Air Force One' Found Before Trump’s Arrival in Florida
×