Co-op to take over 200 more UK supermarkets – rescue deal | UK | News
Co-op is set to take over hundreds more supermarkets across the UK as part of a rescue deal aimed at saving a struggling regional retailer from potential collapse. Members of Southern Co-op have voted overwhelmingly in favour of merging with the national Co-op Group, paving the way for almost 200 convenience stores to change hands in one of the biggest shake-ups for the sector in recent years. The proposal received backing from 97.07% of members during a Special General Meeting held on Tuesday, with 13,361 votes cast in total. A spokesperson for Southern Co-op confirmed the result, saying members had voted in favour of transferring the society’s engagements to a subsidiary of the Co-op Group. If the deal is approved in a second vote later this month, more than 300 businesses currently operated by Southern Co-op — including food stores, funeral homes and coffee shops, would become part of the national chain. The combined business would generate around £11.5billion in annual sales and operate close to 2,500 stores nationwide. Southern Co-op’s chief executive Ben Stimson …
