Co-op plans to invest £160m to build 100 new food stores across the UK in 2018
More than 20 new co-op food stores will open in London, with another 18 in Scotland and 10 in Wales. Building work is also planned for Manchester, Bristol, Nottingham, Leicester, Southampton and York.
The food retailer also intends to carry out major refurbishments to another 150 existing outlets.
Members can also say where they would like to see new co-op food stores via a Suggest a Site website.
The news follows the twin announcements that the Co-op has reached an agreement to become the exclusive wholesale supplier to the 2,200 stores in the Costcutter Supermarkets Group network from spring 2018 and that members of Nisa Retail have voted in favour of the Co-op’s offer to buy the delivered wholesale and convenience retailer. The deal is subject to approval by the Competition & Markets Authority.
Stuart Hookins, Co-op’s director of portfolio and development, said: “The Co-op’s extensive acquisitions and refit programme is a fundamental part of our food strategy. Moving forward with a clear purpose and moment, our expansion plans for 2018 will mean the Co-op is on track to have opened at least 100 new stories in each of three consecutive years.”
Co-op Food chief executive Jo Whitfield added: “The Co-op is positively responding to the changes occurring within this dynamic sector. Our food business is going from strength to strength in what is clearly a challenging retail market. 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.”
