George Osborne's family firm in fourth annual loss As well as distributing its products through stores such as John Lewis, the company has a wholly owned US subsidiary. George Osborne's mother, Lady Felicity Osborne, is a director of the company, alongside Sir Peter. In its latest accounts, the company revealed the highest paid director received £628,000, down from £736,000 the previous year. In total, directors' pay, including benefits and pensions, increased from £1.1m to £1.3m. The result for 2012 compares to losses of £739,000 in 2011, £150,000 the previous year and £7.5m in 2009. Prior to this, the company made a profit. In the accounts, the directors said they were seeing little sign of an upturn in the global economy. "Looking ahead for the current year, market conditions continue to be challenging in the current economic climate and there is little sign of this changing in the near future," they said. Neither George Osborne nor the company responded to calls seeking comments.