It is something John Lewis Partnership has always prided itself on, but now it could be set to end its 100% staff ownership.

Chair Dame Sharon White is thought to be looking into the possibility of changing the retailer's structure to sell a minority stake to raise between £1 billion and £2 billion of new investment, as reported by Retail Gazette.

John Lewis Partnership, which has a store in Cheltenham, as well as Waitrose stores in Cirencester, Stroud and Cheltenham, was put into a trust in 1950 by the founder's son, John Spedan Lewis.

To sell a stake, a change to the John Lewis constitution would be needed, which would have to be voted on by the partnership council of around 60 staff - with at least two-thirds approving the plan.

Last week, John Lewis revealed a £234 million loss and said it had was unable to pay its annual staff bonus.

It's thought the retailer would only consider selling a minority stake, so the business would still be co-owned by staff, with the addition of a shareholder.