Interesting Richer Sounds NEws

Double07 · 15 May 2019 at 08:40

Some interesting news on Richer Sounds being handed over to staff by Julian Richer (well kinda).

https://www.independent.co.uk/news/...rtnership-julian-founder-retail-a8913451.html

Maybe, just maybe, something could be learned from this!

gezod · 15 May 2019 at 10:11

I read this and think its a great idea.
I mostly buy my stuff from Richer Sounds.

Very knowledgeable staff who have time to answer questions and provide demos etc.

Marky · 15 May 2019 at 11:46

Respect. More companies should do this!

marc2003 · 15 May 2019 at 12:04

Each of the company’s 522 staff member wills receive £1,000 for every year they have been at the company.

Imagine if Apple did this. Plenty of 8 year olds could be in line for a 4 grand payout.

FrankJH · 15 May 2019 at 12:06

really impressed with this good on him!!!

Ive used RS quite a few times in the last 15 or so years since I moved to London especially. After reading that I will make more of an effort to go to them in the future

signs · 15 May 2019 at 12:22

nice , just hope the staff keep up the good work

Akagi · 15 May 2019 at 12:28

marc2003 said:
Imagine if Apple did this. Plenty of 8 year olds could be in line for a 4 grand payout.

Double07 · 15 May 2019 at 14:15

marc2003 said:
Imagine if Apple did this. Plenty of 8 year olds could be in line for a 4 grand payout.

Yeah but they are 8 years old AND geniuses remember! Oh wait I get it now, you mean the slave labour

I was going with the idiots who work in the shops who have the mental capacity of an 8 year old.

jpaul · 15 May 2019 at 20:37

the 15% of profits to charity is interesting ...

but moreover, how are their finances ? since some of the john lewis problems are atttributed to their price matching strategy.

google threw this up on first page - so his sale may not be completely ultruisitic ?
https://continentaltelegraph.com/bu...cher-sounds-without-paying-capital-gains-tax/

Employee ownership trusts If you own a trading company, you can now sell some, or all, of your shares to an employee ownership trust (EOT) (subject to satisfying certain conditions) for full market value without incurring any capital gains tax liability in a way which also benefits your employees.

private company I guess so we have no profit info.

Squink · 16 May 2019 at 15:33

jpaul said:
but moreover, how are their finances ? since some of the john lewis problems are atttributed to their price matching strategy.

John Lewis have big shops in high-rent locations. Their overheads will be far in excess of Richer Sounds', making their price matching more damaging to their bottom line.

Sui · 16 May 2019 at 15:47

jpaul said:
the 15% of profits to charity is interesting ...

but moreover, how are their finances ? since some of the john lewis problems are atttributed to their price matching strategy.

google threw this up on first page - so his sale may not be completely ultruisitic ?
https://continentaltelegraph.com/bu...cher-sounds-without-paying-capital-gains-tax/

private company I guess so we have no profit info.

They're doing alright at the moment, you can view their accounts here - https://beta.companieshouse.gov.uk/company/01402643/filing-history

FrankJH · 24 May 2019 at 10:18

jpaul said:
the 15% of profits to charity is interesting ...

but moreover, how are their finances ? since some of the john lewis problems are atttributed to their price matching strategy.

google threw this up on first page - so his sale may not be completely ultruisitic ?
https://continentaltelegraph.com/bu...cher-sounds-without-paying-capital-gains-tax/

private company I guess so we have no profit info.

He also said he was going to do it quite a few years ago
Rather than sell it for a huge profit to himself, don't have a problem with it to be honest