Briton John Lewis has lost his soul, says Mary Portas

Natalie Portman
By Natalie Portman 2 Min Read
origin 1

LONDON (RockedBuzz via Reuters) – British retail consultant and TV personality Mary Portas has written an open letter to the John Lewis Partnership accusing the group of losing its soul as it considers a change to its employee ownership model at long time.

Last week, the partnership, which owns John Lewis department store and upscale supermarket chain Waitrose, confirmed it was considering selling a minority stake in the business to outside investors to finance investment.

The partnership has warned it will have to cut staff this year and eliminate any bonuses after its clients cut spending, bringing its annual loss to £234 million ($286 million).

“Somehow you’ve let your soul go over the last few years,” wrote Portas, known as the “Queen of the Shops” for her efforts to save the UK’s high street.

He accused John Lewis of “going after the new. New systems, new people, new identity … new owners. But here’s the thing: that’s not what we really want from John Lewis.”

John Lewis chairman Sharon White responded to Portas insisting she would ensure the partnership not only survives, but thrives.

“Our (employee) partners who own the business are our greatest asset and our ownership of the partnership will remain,” he said, but added: “We have always been open to new partnerships with like-minded investors or companies. same way to share our growth.”

($1 = 0.8177 pounds)

(Reporting by James Davey; Editing by Jason Neely)

Share This Article
Leave a comment