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The Co-op has said it is pressing ahead with a number of new stores and major renovations as it recovers from a damaging cyber attack.
The retailer said 50 stores would be opened or reopened by Christmas, as it had urged Government Improving business rates ahead of autumn Budget,
It said the reforms would be “crucial” to encourage high street investment as it continues with its expansion ambitions.
The latest series of openings will take the Co-op’s store openings and renovations to more than 200 sites for the latest financial year.
It says the business will invest more than £200 million across the store estate as part of the programme.
The Co-op will open 14 new stores, including becoming the first permanent retailer in the new Brent cross town development. LondonFive new micro-format ‘on the go’ stores and a new franchise store at Lancaster University.
The remaining 50 stores will include sites that have been closed for a long period of time for extensive renovations and will reopen with a new look and updated product range.
The growth efforts come as the group, which has approximately 6.9 million member-owners, continues to recover from a major cyberattack.
It said in September that the hack in April would reduce its annual earnings by about £120 million.
Meanwhile, it said its shelves were emptied and all its members’ data stolen due to a cyber attack, which hit sales by around £206 million.
The group said the hackers impersonated employees to gain access to their accounts.
They made a copy of one of the firm’s files but were unable to further attack its platform and install ransomware.
On Monday, the group, which runs more than 2,300 food stores, renewed calls for property tax reform and increased certainty from the government ahead of the autumn budget.
Shirin Khouri-Haq, cooperative group The chief executive said: “We are investing in stores and communities across the UK because we believe in the future of the high street.
“But continued growth needs certainty. Improving business rates is vital if retailers – especially the 99% who run small stores – are to plan with confidence, protect jobs and keep local economies thriving.
“Co-operatives are showing what is possible when businesses are committed to communities.
“Now the Government has the opportunity to play its part in the Autumn Budget by delivering the reforms it has long promised – providing the stability for every retailer from small to large to invest and grow.”