Overview
- Southern Co-op members, following Wednesday's Special General Meeting, backed the transfer with 97.7% support from 13,361 votes.
- A second Special General Meeting on May 21 will hold the binding ballot required to complete the transfer.
- If approved, more than 300 food shops, funeral homes and Starbucks coffee outlets would become part of The Co-operative Group.
- Chief executive Ben Stimson warned that rejecting the deal could trigger wide store closures and likely administration, and said the move would secure the society’s future.
- The Co-op Group is also refocusing after its CEO resigned on March 29 following a cyber attack that led to a reported £125 million loss, with Kate Allum now serving as interim chief.