Lord Myners has called for the Co-operative Group to make radical changes to restore group profitability, in a damning report in which he blasts some elements of the company for being "struck in denial" over its failings."
I have no doubt that the Co-operative Group can over the next five years reverse a decline that started over 50 years ago. But I am less confident that it will choose to do so.
There is no short cut to recovery from its present weakened state. It will require retrenchment and some painful choices.
Financial health can only be restored through steady, step by step, rebuilding of the group's profitability and repayment of its excessive debt."
More top news
Crisis talks are to be held on the future of curry houses as cheap supermarket deals and immigration rules threaten the £4 billion industry.
Rain expected in the next 24 hours - no surprise there with it being a Bank Holiday - but there'll also be some brighter skies in places.
The presenter's former bandmate failed to impress the judges with his rendition of OneRepublic's Counting Stars.