Quote of the day

What’s happened in the UK is we’ve ended up with a monoculture around the Plc as a dominant form of ownership,” says Mayfield. “If you’re an entrepreneur and looking to sell your business, an adviser would be very unlikely to suggest any kind of co-operative model. If you suggested it, they would probably tell you not to as they don’t really understand it. There’s a lack of awareness that it’s a serious option.” The tax and regulation system is also a disincentive, he says.

-John Lewis Chairman Charlie Mayfield interviewed in CityAm today, on why there aren’t that many co-ops in the highstreet