Stories

Wed, 25 Feb 2026

Wed, 25 Feb 2026 John Lewis pulls out of housebuilding business

The retailer began expanding into housebuilding in 2020 but it is scrapping those plans to focus on retail instead.
John Lewis is closing its housebuilding business due to increased borrowing and building costs. The company had planned to build 1,000 homes across three sites but has scrapped those plans. It's also pulling out of property management and will close that business when contracts with four residential buildings end. Employee-owned firm John Lewis says it's focusing on its retail brands, John Lewis and Waitrose, to simplify the business and strengthen its balance sheet.