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[pounds sterling]1.5bn takover sparks job fears.
- Article from:
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Galloway Gazette (Newton Stewart, Scotland)
- Article date:
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July 18, 2008
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WORRIED workers at two of Newton Stewart's major employers have been left wondering what the future holds - after a [pounds sterling]1.58bn takeover deal was struck.
Bosses at the Co-operative Group announced this week that they had bought Somerfield in a bid to cement the Co-op's position as Britain's fifth-biggest food retailer.
The deal has still to be ratified by the Office of Fair Trading because of competition concerns.
But, if it does go through, managers will face the dilemma of having both a Co-op AND a Somerfield in Newton Stewart. It is thought locally that this could lead to one or other of the stores having to be sold on again.
The Gazette this ...