Eight Co-op stores have been sold or are closing
STAFF GIVEN CHOICE OF TRANSFERRING
THE Co-operative has entered into agreements to sell seven of its stores across Leicestershire since last summer.
One further Central England Co-op shop is being closed, the superstore in Coalville, without an agreed sale to another company.
That makes it eight Co-op sites that have either already ceased trading or will cease trading in the coming weeks and months.
The chain says the closures were not “taken lightly”, but were a result of the business “constantly adapting to retail challenges” – adding there were plans to open new stores elsewhere, as well as revamp some of its supermarkets.
Briton Street Co-operative was sold to Samy Ltd last year and ceased trading in July.
A further five stores have been sold to City Estates Investment Limited, which trades under the Simply Fresh brand.
The superstore in Glenfield has also been sold to fellow UK supermarket brand Morrisons and ceased trading on January 3.
As part of these three separate agreements, staff of the closing stores were offered the opportunity to be transferred to the brands taking over the locations.
A Central England Co-operative spokesman confirmed the closures and thanked staff for all their hard work.
He said: “The Society can confirm it has entered into three separate agreements to sell seven food stores in Leicestershire.
“This will mean all staff have been already or will be transferred across as part of the sales, with all colleagues retaining existing terms and conditions under Transfer of Undertakings Protection of Employment (Tupe) legislation.
“The Society has been working for several months on various proposals for all six food stores and chose these options to ensure that employment for colleagues would be retained.
“The decision on the future of the stores came following a full review of trading performance, which indicated a decline in sales with increasing losses projected in future years.
“Like other retailers, we are constantly adapting to retail challenges at a local level.
“Please be assured this decision was not taken lightly and is necessary to protect the long-term future and growth of the Society as a whole.
“Despite the sales or planned sales of the sites, Central England Co-operative remains committed to serving Leicestershire and is planning several new stores and refurbishments throughout 2020. This includes a new store in Donington Le Heath and refits of stores in Broughton Astley, Oakham and Market Harborough.”
“We would like to thank all staff for their commitment and dedication during their time with the Society.”