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  "path": "/money/co-op-to-take-over-hundreds-of-uk-supermarkets",
  "publishedAt": "2026-04-09T09:51:59.000Z",
  "site": "https://www.gbnews.com",
  "tags": [
    "British Gas issues major energy bills update to customers after Middle East ceasefire confirmed",
    "Lidl to open 50 new UK stores with 2,000 jobs created in £600million expansion",
    "American fast food chain Chipotle to open raft of new restaurants on Britain's high streets",
    "The GB News Editorial Charter"
  ],
  "textContent": "\n\n\nThe Co-operative Group has announced plans to acquire Southern Co-op in a deal that would bring around 300 retail and funeral locations under its control.\n\nProposals include food stores, funeral care branches and Starbucks coffee shops currently operated by the Portsmouth-based business.\n\n###\n\n\n\n\nAn agreement would also see the Co-op Group acquire three crematoria, marking a return to the sector for the organisation.\n\nSouthern Co-op, founded in 1873, operates under the Co-op Food and Welcome brands.\n\n###\n\n\n\n\nTRENDING\n\nStories\n\nVideos\n\nYour Say\n\n###\n\n\n\n\nThe deal follows extended discussions between the two organisations and was confirmed in an announcement to the London Stock Exchange on September 3.\n\nSpecific financial terms of the transaction have not been disclosed.\n\nThis move comes as the Co-op Group continues to recover from a cyber attack that resulted in losses of £126million, disclosed in recent financial updates.\n\nThe breach included £107million in lost profitability, £86million in margin costs and £21million in additional expenses.\n\n###\n\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nIn response, the company has launched a £200million cost reduction programme, with job cuts not ruled out.\n\nFormer boss Shirine Khoury-Haq stepped down last month following the fallout from the cyber incident, which totalled £300million.\n\nKatie Allum has taken over leadership on an interim basis.\n\nFor Southern Co-op, the proposed merger comes as the business faces pressure from declining profits and rising operating costs.\n\n### LATEST DEVELOPMENTS\n\n\n\n\n  * British Gas issues major energy bills update to customers after Middle East ceasefire confirmed\n  * Lidl to open 50 new UK stores with 2,000 jobs created in £600million expansion\n  * American fast food chain Chipotle to open raft of new restaurants on Britain's high streets\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nIf completed, around 300,000 Southern Co-op members would be integrated into the Co-op Group’s existing membership base of seven million people.\n\nThe transaction is being structured as a “transfer of engagements”, requiring approval from members and regulators before it can proceed.\n\nSouthern Co-op has recently closed branches in Dorset, Bristol and Petersfield as part of efforts to reduce costs.\n\nDebbie White, chair of the Co-op Group, said: \"This will bring together over 300 years of co-operative experience, while providing new and strengthened opportunities for members, customers, colleagues and suppliers of both of our co-operatives.\"\n\n###\n\n\n\n\n###\n\n\n\n\nChief Executive Officer, Ben Stimson, said: \"The Co-operative Group shares our values and our commitment to democratic membership, ethical sourcing and fair reward, as well as our dedication to supporting local communities.\n\n\"By coming together, we can secure the co-operative future of Southern Co-op as part of a stronger combined Co-op Group, whilst creating an even stronger voice nationally and internationally to advance the co-operative cause.\"\n\nMs Allum said the deal would create \"new opportunities\" for members of both organisations.\n\nShe said it would provide greater benefits and expanded trading opportunities.\n\nCompletion of the deal is expected in the final quarter of 2026, subject to regulatory and member approval.\n\n###\n\n\n\n\n\n\n\n\n\n\n**Our Standards: The GB News Editorial Charter**",
  "title": "Co-op to take control of HUNDREDS of supermarkets from struggling UK chain, with 4,500 workers impacted"
}