There's going to be a lot more Co-op on your street
The Co-operative are having a terrible time, what with a scandal or two, losing a lot of money and they're selling off their farms. However, they can't just admit defeat. They've got to do something about it in a bid to revive themselves.
It seems the Co-op think success lies in convenience and they're set to double the number of convenience shops they have, to around 4,000 in the next five years.
The company's retail chief executive, Steve Murrells, wants to turn around the Co-op's food business and said that he'd be overseeing an expansion that would double its capital expenditure to around £300m a year, as well as investing in cutting prices, smartening the stores up and growing their range of own brand products.
There will be 150 Co-ops opening per year, with that target looking to increase if all goes according to plan as Murrells hopes to become the UK’s "leading store retailer". "We want to have a shop on every corner in every community around the country," Murrells said.
You'll have to fight Tesco for it.
TOPICS: High Street News