Where Co-op will open 30 new stores before Christmas December 10, 2019 Co-op is aiming to open 30 new stores in the run-up to Christmas, as it invests £25m in sites at transport hubs, residential blocks and key city locations. The new stores are expected to create up to 500 jobs, bringing some festive cheer to the UK retail industry following a challenging year for the high [...]
Friends again: The Co-op Bank and Capita have renewed a £141m contract after falling out in 2016 October 31, 2019 Capita has been tasked with running the Co-operative Bank’s mortgage servicing operations for the next six years, in a contract win which indicates the once-strained relationship between the two is back on course. The £141m deal comes after a public spat in September 2016, in which the Co-op Bank claimed the London-listed firm had failed [...]
Londoners bury tradition to modernise their funeral services August 29, 2019 Londoners are abandoning tradition to give their loved ones more unique send-offs as religious funeral services appear to be dying off, according to new research. Co-op Funeralcare said it is seeing a rise in funerals which feature the deceased’s beloved pets, decorating coffins in bright colours and even hosting funerals at the zoo or on [...]
Cash machine ruling hits London councils with £60m rebate November 19, 2018 London councils are to cough up a hefty rebate to retailers following a recent court ruling that decided firms should not be liable for business rates on cash machines outside their stores. Nearly 2,400 supermarkets, small shops and petrol stations are set for a £60m windfall from London’s councils following a five-year legal dispute which [...]
Funeral provider Dignity sees share price slide as profits drop amid rising competition November 12, 2018 Funeral provider Dignity saw shares slide more than six per cent today after it reported a £10.8m drop in profits. The 14 per cent dip in profit to £68.6m in the year to the end of September, compared to £79.4m in the same period last year, comes as the group fought off competition from rivals. [...]
Co-operative Group says investments in its turnaround will hit full-year profits September 3, 2015 The Co-operative Group has warned full-year profits are likely to be lower than 2014 is ramps up investment as part of a radical overhaul of the business following one of the most turbulent periods in its history. The company, which operates everything from supermarkets to funerals, has been fighting to restore its fortunes following the [...]
Co-operative Bank losses nearly treble as turnaround plan gets underway August 20, 2015 The figures Co-op Bank said it made a loss of £204.2m in the first half of 2015, up from a £77m loss in the same period last year, however this was slightly better than expected. The bank’s operating income slumped to £236.5m during this period, from £307.3m in the first half of 2014. This included losses [...]
Struggling banks must not be immune to watchdog’s bite August 12, 2015 It's two years since “saying it with Flowers” gained entry into the lexicon of British banking. This week’s dual censure from the banking and City regulators will have felt like groundhog day to Niall Booker and the rest of the Co-operative Bank’s management. The Treasury Select Committee and a review by Sir Christopher [...]
Former Co-operative Bank execs to face regulator scrutiny August 12, 2015 The Co-operative Bank may have avoided paying a financial penalty for its “serious and wide-ranging failings” between 2009 and 2013, but it is expected that the firm’s former management will face fines and punishments in the months ahead. The Bank of England’s prudential regulation authority (PRA) and the Financial Conduct Authority (FCA) said yesterday [...]
Regulators rule out huge fines in Co-op Bank probe August 11, 2015 The City’s watchdogs are set to announce the conclusion of their 18-month enforcement probe into the Co-operative Bank today, with the scandal-hit lender expected to avoid any threat of huge fines. The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) launched their investigations of the troubled firm in January 2014. The regulators will [...]