Co-operative Group acquires six stores from My Local

  • Print
  • Share
  • Comments (1)
  • Save

The Co-operative Group has acquired six convenience stores from My Local for an undisclosed sum, after the chain entered administration last week.

The stores are in Croydon, Nottingham, Widnes, Blackpool, Stockport and Steeton. Two other former My Local stores, in Addlestone, Surrey, and Holbury in Hampshire, were recently acquired by The Southern Co-operative.

Steve Murrells, chief executive for retail at Co-operative Food, said: “The Co-op Food business is moving forwards with a clear purpose and momentum, so we can deliver a compelling, convenient and co-operative shopping experience for millions of shoppers each day.

“Our acquisitions programme is fundamental to the success of this strategy. In the last two years we have opened close to 200 new stores, and in 2016 the Co-op is actively pursuing 100 new stores as well as carrying out refits in a further 150.

“The acquisition of these My Local stores supports our focus on convenience store retailing and adds to a portfolio that offers the right range in the right location.

“Our strategy is clearly working, as is evident from our recent results and continued positive like for like sales growth.”

KPMG Restructuring has been appointed administrator of My Local. Ninety of the chain’s 125 stores have now closed.

Readers' comments (1)

  • If the Co-op want these shops to succeed, they need to look carefully at their pricing policy. When MyLocal took over the Morrisons shop here in Blackpool, they added between 50% and 100% to many of the prices. If they had done any research, they would have known that this is a low-wage area, and people just won't pay high prices. Very few people would spend £3.50 on a MyLocal microwave ready meal, when 10 minutes walk away is an Iceland selling dozens of similar meals for £1. The Co-op needs to adopt the old adage - pile it high and sell it cheap. No frills, low prices.

    Unsuitable or offensive? Report this comment

Have your say

These comments have not been moderated.

You are encouraged to participate with comments that are relevant to our news stories. You should not post comments that are abusive, threatening, defamatory, misleading or invasive of privacy. For the full terms and conditions for commenting see clause 7 of our Terms and Conditions ‘Participating in Online Communities’. These terms may be updated from time to time, so please read them before posting a comment.

Any comment that violates these terms may be removed in its entirety as we do not edit comments.

If you wish to complain about a comment please use the “report this comment” facility or email groceremails@wrbm.com

Mandatory
Mandatory
Mandatory
Mandatory

Related images

  • The Co-op wil return to its iconic blue clover-leaf logo
  • Print
  • Share
  • Comments (1)
  • Save
Sign in

Newsletter Sign-up

I wish to receive the following newsletters:

FOLLOW US