What: John Lewis employees are afraid that the minority stake sale might endanger their social model.

Why it is important: Even though the chairwoman strongly defended the model, it is hard to see how it can survive without controlling 100% of its shares.

Dame Sharon White, chair of John Lewis and Waitrose, has pledged to maintain the partnership status of the UK retailer for decades, despite considering selling a minority stake.

The company is grappling with heavy debts and increasing competition from online rivals, but White emphasized that the ownership structure would remain constant. Critics argue that bringing in outside investment could lead to demutualization, but White assured that any radical proposals would be discussed with the company's 74,000 employees first.

Last week, John Lewis reported a pre-tax loss of £234 million, and sales at supermarket Waitrose declined 3%. The company has increased its cost-cutting target to £900 million by 2026.

The John Lewis Partnership ownership model is not at stake according to Chairwoman