‘Ethical Capitalist’ Urges U.K. to Let Some Businesses Fail

Julian Richer, author of the “Ethical Capitalist” and a retail entrepreneur who handed control of his company to his employees, said the U.K. government should collect on the loans it made to support Covid-stricken businesses.

“Some businesses deserve to go under,” Richer said in an interview. “They’ve ripped off their customers, they didn’t invest, they bled their companies dry, they used dodgy tax schemes to get as much money out of their companies as they could. Where’s the surprise that they’ve hit the wall?”