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Co-op to Open or Reopen 50 Stores Before Christmas, Presses for Business Rates Reform

The push forms part of a more than £200 million estate investment after an April cyberattack that dented finances.

Overview

  • Fifty sites will open or reopen by Christmas, combining new locations with stores returning after major refits.
  • The wave includes 14 new shops featuring the first permanent retailer at Brent Cross Town in London, five micro ‘on the go’ formats, and a franchise at Lancaster University.
  • The programme lifts this year’s total of openings and refurbishments to more than 200 sites and takes estate investment above £200 million.
  • The Co-op urged ministers to deliver business-rates reform in the autumn Budget to support confidence, jobs and high-street investment.
  • The retailer is rebuilding from an April breach that copied a company file via staff impersonation, exposed member data, depleted stock, and led to a projected £120 million hit to earnings plus about £206 million in lost sales.