Major UK supermarket chain facing collapse – 300 stores could close | UK | News
A UK supermarket chain could close stores (Image: Getty) A UK supermarket chain could close as many as 300 stores as the business is at risk of collapse. Now the crisis-hit retailer is racing against time to secure a rescue merger as fears mount it could go bust. Southern Co-op has warned members it faces collapse into administration after three consecutive years of financial losses. The regional chain, which operates more than 300 food stores, funeral homes and coffee shops across southern England, says merging with Co-op Group represents its only chance of survival. Thousands of retail workers now face an uncertain future as the company hangs on the edge of collapse. Company chiefs wrote to members on April 22 laying bare the scale of the crisis.Members will vote on the proposed merger at crunch meetings on May 6 and May 21 – a decision that will ultimately decide whether the business survives. A Southern Co-op “Welcome” store in London (Image: Google) Chief executive Ben Stimson and chair Janet Paraskeva issued the stark warning to …
