Richer Sounds staff react as they find out they're each set to make thousands overnight
By Hull Daily Mail | Posted: 15 May 2019
Richer Sounds staff in Hull have spoken of their delight after the chain’s owner announced he was handing over control to employees.
The Prospect Street shop employs around seven staff, each of whom now stand to make thousands of pounds for their long service.
Company founder and owner Julian Richer announced yesterday he was handing a 60 per cent stake in the business to its staff, and was also giving cash payments to employees.
Staff working at Richer Sounds will get £1,000 for every year they have worked at the chain.
Hull store manager Paul said: “It’s brilliant news for all the staff, and unbelievably generous from Julian.
“He is a true pioneer in the retail sector, and as a person is charismatic and always approachable.
Julian Richer founded the business in 1978 (WireImage)
“He is constantly thinking about his colleagues, and is already very generous anyway, but the announcement is fantastic.
“We’ll definitely be going out for some drinks at the weekend to celebrate.”
The average staff member at Richer Sounds has worked at the business for eight years.
In Hull, Paul said many employees at the shop would make a cool £7,000. More importantly though, they will now also have a say in the future direction of the business.
Anthony, senior sales manager at the Hull shop, said: “I have been working here for almost five years now. Everyone in the store has been here a long time.
“I have never had a job before where you see the person who owns the business, and who cares about staff so much. That is why everyone stays as long as they do.
Staff at the Hull store will now have a say on the future of the business (Peter Harbour)
“Julian is a really stand-up guy, who has put a lot into the company. If ever there are any issues, he puts staff first and before the company. That is one of the main reasons I like working here.”
Julian Richer, who launched Richer Sounds in 1978 when he was just 19, announced he is stepping away from the company, and will hand control to its 500-plus staff.
Mr Richer said the "time was right" to hand over the ownership of the business to staff - an announcement that also came as he stepped down from the day-to-day running of the firm.
He said: "I have always planned to leave my company in trust on my death for the benefit of the colleagues in the business.
"Having hit the ripe old age of 60 in March, I felt the time was right, rather than leaving it until I'm not around, to ensure that the transition goes smoothly and I can be part of it."
Almost 40 staff across the country have worked at Richer Sounds for more than 20 years. They will now pick up a hefty windfall following the announcement this week.