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Co-op to switch to British-only fresh meat

Credit: PA

Co-op stores have switched all their fresh meat to British-only.

The Manchester based retailer said it made the move to sell only home-sourced meats amid rising imports.

Quoting customs data, the store said meat imports to the UK have doubled in the last two decades, and called on other retailers to follow suit by buying local.

Credit: PA

Consumers will be shocked to see how meat imports have grown while at the same time retailers hang out the bunting and claim to back British farmers.

Only the Co-op offers 100% British fresh meat all year round, and not just in the meat cabinet but also in our sandwiches, our pies and our ready meals. "We can do this because we're owned by members, not shareholders, and can invest long-term in what matters to communities, not what provides the fastest shareholder return.

– Jo Whitfield, retail chief executive of the Co-op

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Co-op loses £559 million

Co-op loses millions Credit: PA

The Co-operative Group which was founded in Rochdale today plunged to £559 million first-half losses as heavy bad debts in its banking arm wiped out profits from its supermarkets.

The group said there will be "no quick fixes" as it embarks on a four-year turnaround plan, after reporting pre-tax losses of £709.4 million in the Co-operative Bank in the six months to the end of June.

City regulator the Prudential Regulation Authority (PRA) said the scale of the losses did not alter its demand that the Co-op must plug a £1.5 billion hole in its balance sheet.