UK: Co-operative to acquire ten Costcutter stores

UK retailer The Co-operative Group is to buy ten Costcutter stores in London for an undisclosed sum.

The Co-op plans for the outlets to start trading as Co-operative food stores before Christmas, the retailer said today (19 November). Staff employed at the outlets will be offered the opportunity to transfer to The Co-op.

The retailer said the move forms part of its plan to acquiring stores either leasehold or freehold, between 2,000 sq ft and 4,000 sq ft in high street and local community locations. The group said it is particularly focused on expanding in London.

The retailer bought six of the stores from the Sunstar Group and the remaining four from Tothaal Group.

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