Newport Restaurant Group operates as 100% employee-owned business
1 report, 1 independent
Updated 00:00
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What happened
The Newport Restaurant Group owns The Mooring and 17 other hospitality venues across Rhode Island and Massachusetts. The company operates as an employee stock ownership plan, meaning its shareholders are the employees themselves. Andy Staane, a long-time bartender at The Mooring, is also a part owner of the group.
From fortune.com
Why it matters
The group is one of the few companies in the country where the shareholders are employees, a structure noted for maintaining low employee turnover. The company continues to expand its operations throughout Rhode Island and Massachusetts.
From fortune.com
Who's involved
- Rhode IslandState where the Newport Restaurant Group operates venues
- MassachusettsState where the Newport Restaurant Group operates venues
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The entities involved
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Newport
county town of the Isle of Wight, in England, UK
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Providence
capital city of Rhode Island, United States
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Massachusetts
state of the United States of America
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Rhode Island
state of the United States of America