The Co-op has announced a significant pre-Christmas expansion, confirming it will open or reopen 50 stores across the UK by December 25. This move is part of a major investment drive exceeding £200 million for the 2024/25 period.
A Call for Government Support
Alongside the expansion news, the retailer has issued a direct plea to the government. Co-op is urging for the long-promised reform of business rates in the upcoming autumn Budget. The company stated that certainty on business rates is vital for sustaining investment and unlocking further growth across the entire retail sector.
Shirine Khoury-Haq, Co-op Group CEO, emphasised this point, saying: "We're investing in stores and communities right across the UK because we believe in the future of the high street. But sustained growth needs certainty." She added that reform is crucial for all retailers, especially the vast majority who run small stores, to plan with confidence, protect jobs, and keep local economies thriving.
Diverse New Store Locations and Formats
The 50 new sites represent a wide variety of formats and locations, reflecting the diversity of communities the Co-op serves. Key highlights from the expansion include:
- Becoming the first permanent retailer at the new Brent Cross Town development in London.
- Launching five new micro-format 'on the go' stores in towns including Aylesbury, Kingston, and Leamington.
- Opening a new franchise store on Lancaster University campus, bringing the total of campus franchise stores to 11.
- The most northerly new store will be in the Scottish Highlands village of Brora, with the most southerly locations in Devon and Cornwall.
A number of the 50 locations are sites that had been closed for extensive refurbishment and will now reopen with a new look and updated product range.
Investment Amidst Recovery from Cyber Attack
This growth initiative comes as the member-owned group, which has around 6.9 million members, continues to recover from a major cyber attack that occurred in April. The company revealed in September that the hack, which involved criminals impersonating staff to gain access, would knock its annual earnings by approximately £120 million.
The incident, which left shelves bare and saw member data stolen, also impacted sales by about £206 million. Despite this significant financial blow, Co-op is pushing forward with its substantial store investment programme.
The full list of Co-op stores opening before Christmas includes locations from Irvine in Scotland to Tavistock in Devon, demonstrating a UK-wide commitment to high street investment.
