06 May 1998
Demutualisation spectre haunts Co-op
SPECULATION about Co-op demutualisation has reared its head in the wake of heavy annual losses from Co-operative Retail Services (CRS), the largest society
after the Co-operative Wholesale Society (CWS).
However, The Scotsman says ending the Co-ops 133-year-old mutual tradition would be complicated because of the ownership structures of the individual societies. An eventual merger between CWS and CRS also continues to be the subject of speculation.
CRS sales last year fell from £1.541 billion to £1.537bn and pre-tax annual losses doubled from £13.5m to £25.6m.
- Financial Times 06/05/98 page 25
- The Independent 06/05/98 page 23
- The Guardian 06/05/98 page 23
- The Daily Telegraph 06/05/98 page 33
- The Times 06/05/98 page 23, page 25 (Commentary)