Co-op to sell its store in Sidley

The Co-op group SUS-160726-110335001
The Co-op group SUS-160726-110335001
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The Co-op Group has agreed to sell 298 of its food stores, including one in Sidley.

As part of its strategy of refocusing its store estate on a convenience, own-brand led shopping experience, the Co-op Group will sell a number of its smaller branches to McColl’s for £117m, subject to approval from the CMA and McColl’s shareholders.

The stores, with an average size of 1,700 sq ft, will continue to trade immediately after handover, which is expected from November 2016, and all members of staff will transfer to McColl’s.

The Co-op store on Ninfield Road is included in the list of 298 stores to be sold off.

Steve Murrells, CEO of Co-op Food, said: “The Co-op Food business continues to move forward with a clear momentum and purpose to deliver a compelling and convenient shopping experience for our millions of customers and members.

“This announcement is completely in line with our strategy, as these stores did not allow us to provide a sufficiently compelling own-brand offer for our members going forwards.

“The proceeds will be re-invested to drive sustainable growth for our members and I’m delighted that all 3,808 colleagues will transfer to McColl’s on the same terms and conditions.”

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