The privately owned book chain Blackwell has planned to handover the ownership of the company to its 900 staff just like the departmental store John Lewis did with its business. The 130 years old book chain has also planned to close its head office at Oxford and ordered its staff to work in the stores.
The current owner of the book chain, Toby Blackwell is trying to set up an employee partnership just a copy to the John
Lewis model of business which will allow him to hand over the control of the company to the staff. He has cleared that he will not let the company down which was founded by his great grandfather.
He has said that all the staffs of the company are admirable and their contribution can make the book chain more efficient and innovative. As per experts, this decision was taken due to the increasing competition in the book market mainly from the online book sellers.
As most of the traditional bookshops have been closed due to the same issue the Blackwell does not want to enter in to the list and forced to take the decision.