The retailer’s store managers, along with some deputies, have claimed 10 per cent of the company with the remaining 10 per cent open to head office staff and senior executives.
Borders UK chief executive Philip Downer said around 50 to 60 staff have so far taken advantage of the offer. He said: “We’ve had excellent take-up – well north of 90 per cent.”
Risk Capital Partners, which bought Borders UK last year, devised the scheme to incentivise staff. Chairman Luke Johnson said: “We want to give staff a sense of ownership so they’ll be much more positive and committed to their job. It is the store managers who bring about the success of the business.”
Johnson said store managers were allowed to buy shares for a “relatively nominal account” and did not rule out extending the scheme to more employees. “I’m a believer of incentivising people intelligently,” he said.
Risk Capital Partners paid£10 million for a majority stake in Borders UK, separating it from its US parent, Borders.
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