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Southern Co-Op Stores in Bristol at Risk of Closing
The chain said a merger with the national Co-op Group would provide immediate financial stability after three years of losses and avert administration.
- Southern Co-op warned members it faces collapse into administration following three consecutive years of financial losses, stating a merger with the national Co-op Group represents the sole route to survival.
- CEO Ben Stimson and chair Janet Paraskeva delivered an alert on April 22 to outline the "full picture" of the company's deteriorating condition, cautioning that without the merger, the business will "most likely" face administration.
- Management disclosed that ongoing support from banks and suppliers has reached its limit, leaving no solvent alternative available; the board maintains the merger would deliver "immediate financial stability" and safeguard thousands of workers.
- Members will decide the company's future at extraordinary gatherings, with the business warning that if the merger fails, it would "put jobs at risk, lead to the loss of stores and negatively impact our suppliers."
- Should the merger receive approval, it would establish a colossal co-operative giant with turnover of approximately £11.5 billion and almost 2,500 outlets nationwide, expanding on the regional chain's current 300 supermarkets, funeral homes, and coffee branches.
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Daily MirrorReposted by 
The Business Times
The Business TimesMajor UK supermarket on brink of administration with 300 stores at risk
Southern Co-op says three years of financial losses means it is on the brink of administration
·London, United Kingdom
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Coverage Details
Total News Sources12
Leaning Left3Leaning Right4Center3Last UpdatedBias Distribution40% Right
Bias Distribution
- 40% of the sources lean Right
40% Right
L 30%
C 30%
R 40%
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