The Co-op buys Alldays
The BBC is reporting that Alldays has been bought by the Co-op for £131m.
According to BBC News Online, the Co-op says it will retain all 10,500 employees of Alldays and will run the firm as a separate brand before merging it into its own operations.
The BBC says the move will make the Co-op the UK's largest operator of convenience stores.
Apparently Alldays has 637 stores in the UK and the Co-op 1,100 with half described as convenience stores.
According to the Times Online, the Co-operative Group was formed two years ago when CWS and CRS, merged. They then decided to focus on smaller food stores. The Times Online says the enlarged group will run an estimated 1,700 stores across the UK and generate sales of more than £5.5 billion a year.
The PA Ananova service for Orange says that under the terms of the deal the Manchester-based Co-operative Group is taking on responsibility for Alldays' creditors and its 10,500 staff.
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October 28, 2002
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