UK: The Co-op to invest £160mn in expansion plan
The Co-op has confirmed plans to open 100 new food stores across the UK in 2018, creating an estimated 1,600 jobs.
The community retailer will invest over £160 million ($217mn) in new stores and major makeovers for a further 150 of its outlets.
More than 20 new stores are set to open in London, up to 18 are planned for Scotland, ten in Wales and dozens more across the rest of Britain. The news follows twin announcements last month as the Co-op confirmed it had reached an agreement to become exclusive wholesale supplier to the 2,200 stores across the Costcutter Supermarkets Group network from spring 2018. While members of Nisa Retail also voted in favour of the Co-op’s offer to buy the delivered wholesale and convenience retail specialist, a move which is conditional on Competition and Markets Authority (CMA) approval.
“We have the ambition for our stores to be at the heart of local life, bringing communities together and offering our Members and customers great quality products when and where they need them,” said Jo Whitfield, Chief Executive of Co-op Food.
The new-look stores will see the Co-op focus on offering a wide range of fresh, healthy foods, meal ideas and essentials, alongside increased ranges of own-brand and locally-sourced produce.
