There's going to be a lot more Co-op on your street

6 March 2014

Co-op 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

4 comments

  • Bonnylad
    Well that explains the letter I received from the Cooperative Bank this morning telling me they are putting up my monthly transaction charge from £100 per month to £125.00 per month, a 25% increase. I have 4 accounts so my costs will increase by £1200 pa for nothing. Bye Coop.
  • shiftynifty
    More rip -off supermarket prices....the leaflet they weekly shove through the door promoting their deals...are still way more expensive than others
  • Billybobjimbob
    After seeing some of the prices in their shops, it's not just their bank's CEO who is on crystal meth.
  • p
    Jesus, given the number of co-ops round by me already, they'll have to take over the other shops!

What do you think?

Connect with Facebook, Twitter, or just enter your email to sign in and comment.

Your comment