Richer Sounds
Richer Sounds is a British home entertainment retailer that operates through a chain of 51 stores and through online, mainly in England. The business was 100% owned by Julian Richer, the founder and managing director of the company, who in 2019 sold 60% of its shares to an employee ownership trust. History of the business. Richer Sounds formally began trading in 1978 when Richer, then aged 19, opened his first shop near London Bridge, with the help of photography retailer Vic Odden. For over 20 years, this shop has been listed in the "Guinness Book of Records" for  the highest sales per square foot of any retail outlet in the world. In November 2013, Julian Richer announced to the press that, upon his death, he would bequeath 100% of the firm to a trust co-owned by employees of the company. In May 2019 Richer, then aged 60, announced that he had transferred ownership to employees by passing 60% of his shares to a trust, as well as separately paying each employee, excluding directors, a thank you bonus of £1,000 for every year of work from his own pocket to his 500+ employees who had worked  an average of 8 years each (circa £4 million). Awards and recognition. In January 2011, Richer Sounds received a Royal Warrant. Richer Sounds has won 5 'Retailer of the Year' or Best Retailer' awards from Which? in 2010, 2011, 2015, 2018 and 2019. Richer Sounds is an accredited holder of the Fair Tax Mark for transparency over tax disclosures and the amount they pay. The company is also a part of the Living Wage Scheme, set up by the Living Wage Foundation, and founder, Julian Richer, has backed their Living Hours program, which seeks to curb zero-hour contracts