Co-op to invest £160m on 100 new food stores – creating 1,600 jobs

THE CO-OP plans to open 100 new food stores in 2018, creating about 1,600 jobs.

The retailer will invest more than £160 million in the venture, as well as giving “major makeovers” to a further 150 outlets.

More than 20 stores will open in London, up to 18 in Scotland, ten in Wales and others in English cities including York, Plymouth and Bristol.

The news follows the announcement of an agreement for the Co-op to become the exclusive wholesale supplier to the 2,200 Costcutter Group stores, and the deal to buy Nisa Retail, which is conditional on Competition and Markets Authority approval.

Jo Whitfield, chief executive of Co-op Food, said: “The Co-op is positively responding to the changes occurring within this dynamic sector. Our food business is going from strength to strength in what is clearly a challenging retail market. We have the ambition for our stores to be at the heart of local life, bringing communities together and offering our members and customers great quality products when and where they need them.”

Stuart Hookins, Co-op’s director of portfolio and development, said: “The Co-op’s extensive acquisitions and refit programme is a fundamental part of our food strategy.

“Moving forward with a clear purpose and momentum, our expansion plans for 2018 will mean that the Co-op is on track to have opened at least 100 new stores in each of three consecutive years.

“With over one million new active members joining us in the last year, we are always looking for new locations to get closer to where our members and customers live and work.”