THE Durrington Co-op is one of 298 stores being sold to McColl's as part of the group's plans to offload its smaller shops.
The Co-operative wants to boost sales of its own products and smaller stores, such as the one on Bulford Road, are too small to stock its full range of products.
McColl's has bought the stores in a deal worth £117million, subject to shareholder approval, with the handover expected to take place in November. The stores are expected to continue trading as normal.
Current staff will keep their jobs under the same employment terms and conditions.
Steve Murrells, CEO of Co-op Food, said: "Today’s 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."
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here