Richer Sounds founder hands over control of hi-fi and TV firm to staff

Chain joins John Lewis in employee ownership as staff get
£1,000 for each year they have worked

The 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.

Julian Richer will announce to staff on Tuesday that he has
transferred 60% of his shares into a John Lewis-style trust.
Richer, who recently turned 60, said the “time was right” to
pass the baton to the chain’s 531 employees.

Source: FS – All-News2-Economy
Richer Sounds founder hands over control of hi-fi and TV firm to staff