(Reuters) -British retailer John Lewis, which has been 100% owned by its staff, is considering diluting its partnership structure, The Sunday Times reported on Saturday. The report said that the company would consider selling only a minority stake and its priority would be to maintain majority employee ownership. Any outside investor would have to share the partnership’s employee-centric values, the report added. The company, which runs John Lewis department stores and grocer Waitrose, said on Friday it would have to cut staff numbers and scrap bonuses this year, flagging an uncertain outlook as customers struggle with inflation. “We’ve always said we would seek partnerships to help fund our transformation and exciting growth plans,” John Lewis said in a statement at the weekend, citing previous partnerships with Ocado in the past and a current joint venture with investment firm abrdn.

Source: The Times March 18, 2023 19:22 UTC