Central Co-op is selling off 19 of its food stores and closing six funeral homes due to trading profit becoming more challenging than in previous years.
The Lichfield-based organisation says inflation impacting on food sales and death rates continuing to decline has led to the decision to make the changes to its portfolio but it still enters the festive season with confidence.
Sixteen food stores which have been “financially unsustainable for some time”, including the one in Baswich Lane, Stafford, will be transferred to Samy – an independent retail operator of convenience forecourts and standalone stores – over the next two to six months.
A further three stores – in Norfolk, the West Midlands and Leicestershire – will be leased to B&M Retail.
A Central Co-op spokesperson has said the Society is “confident that affected colleagues will be provided with alternative employment opportunities, and that the communities and Members it serves will have access to a nearby Central Co-op store or another Co-op society store for their immediate needs.”
Six “financially unsustainable” funeral homes, none of which are in Staffordshire, are also set to be closed by early February with all staff relocated to neighbouring homes.
Central Co-op Chief Executive Debbie Robinson said: “We’re committed to putting the welfare of our colleagues first when making these tough choices.
“Any decision to sell or close our stores follows an extensive period of careful appraisal and enables the Society to redirect resources into future growth and further improvements across the business for our members, customers and colleagues.”
The Society says it has navigated a “positive path” during “these challenging times” and has invested over £40 million into its food and funeral business this year.
Last month, Daily Focus reported that the funeral home on Birmingham Road, in Lichfield, pictured above, had reopened following a £500,000 refurbishment.
By the end of the year, Central Co-op will have opened five new stores (none of which are in Staffordshire), regenerated 35 stores and refurbished 16 funeral homes.
Several new initiatives are being launched to benefit members, colleagues and across the communities it serves.
These include working closely with other co-op societies to successfully lobby the government to bring about a change in law around the assault of a shopworker and increasing the minimum hourly rate to £12 for front-line colleagues working in stores.
Once all the closures and sales have gone through, Central Co-op will have 241 food stores and 169 funeral homes across the UK.
