John Lewis writes down value of head office as hybrid working persists
Department store chain John Lewis has written down the value of its head office, due to the persistence of working from home and commercial property values.
The retailer, which includes John Lewis and upmarket grocer Waitrose, has written down the value of its London head office by £15.6m, according to new annual account filings.
The move came after the brand shuttered seven floors of its headquarters and “revised” use of its new office building in Berkshire, according to The Times.
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