‘I did the right thing’: Richer Sounds boss has no regrets

“I’m doing the right thing because I sleep better at night,” says an exhausted-sounding Julian Richer, after a momentous week in which he won plaudits for handing control of his Richer Sounds business to staff.

For once though, the entrepreneur’s good deeds have cost him sleep. The 60-year-old has been up all night after being engulfed in a media storm after the Guardian revealed he had transferred 60% of his shares to a John Lewis-style trust.

In a world of precarious work and heavy retail job losses, good deeds are as rare as hen’s teeth. The act was made all the more impressive by Richer’s decision to give a third of the £9.2m windfall he received for his stake back to more than 500 staff, handing them £1,000 for every year’s service.

Continue to read the full article in The Guardian.