Co-op is preparing for the closure of 19 of its food stores across the UK, highlighting the difficulties plaguing Britain’s high street amid economic strains such as the cost-of-living crisis, climbing rents, and increasing operational expenses.
Central Co-op has disclosed plans to close several outlets in the Midlands and East Anglia by May, citing “financial sustainability issues”, according to a report by The Sun. A total of three stores are set for transformation into BandM branches, with an additional sixteen establishments poised to be acquired by Samy Limited, an independent operator known for managing brands like Spar, Londis, and Premier.
The closures—which cover areas such as Norfolk, West Midlands, and Leicestershire for BandM, and regions including South Yorkshire, Staffordshire, and Cambridgeshire under Samy’s operation—are part of an overarching strategy that also includes ending services at six funeral home sites.
Meanwhile, the Co-operative Group is plotting the launch of over 120 new grocery stores following a year marked by profit rises. Nonetheless, it has issued a warning via The Guardian, as noted in the Express, advising the government that piling extra costs on retailers could worsen the plight of already-struggling high streets and local communities.
Central Co-op’s top boss Debbie Robinson has underlined the significance of keeping staff welfare at the forefront during tough times, declaring, “We’re committed to putting the welfare of our colleagues first when making these tough choices.”
She further added, “Any decision to sell or close our stores follows an extensive period of careful appraisal, and enables the Society to redirect resources into future growth and further improvements across the business for our members, customers and colleagues.”
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