FENLAND: Wisbech, Chatteris, March and Whittlesey Somerfield staff wake to new bosses
STAFF at four Fenland supermarkets woke up today to the not unexpected news they have new bosses. Somerfield stores in March, Chatteris, Wisbech and Whittlesey, all transferred today to the Manchester-based Co-op after a �1.56billion take over was complet
STAFF at four Fenland supermarkets woke up today to the not unexpected news they have new bosses.
Somerfield stores in March, Chatteris, Wisbech and Whittlesey, all transferred today to the Manchester-based Co-op after a �1.56billion take over was completed.
Co-op will now eight per cent market share and run a total of 3,000 stores across the country.
Whilst Co-op will spend the next two years re-branding their stores, it is likely that the Somerfield store in Chatteris - where there already is a large Co-op- will be sold to another chain. There could, for instance, be nothing to stop the Somerfield store in Chatteris being sold to Tesco.
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There may also be doubt about what happens to the Horsefair, Wisbech, branch of Somerfield since Anglia Co-op have a large, out of town store.
Peter Marks, chief executive of The Co-operative Group, said: "It is a transformational deal which cements our position as the UK's number one community retailer and returns us to the premiership of food retailers. It is no longer the Big Four, it's the Big Five."
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n If you work for Somerfield and are worried about your future job prospects, please email email@example.com or call 01354 652621