Britain’s Co-op Warns Of Financial Hit From Coronavirus Crisis

Britain’s Co-operative Group has said that additional costs associated with the coronavirus crisis could be up to £275 million (€315 billon).

The owner of the country’s sixth largest supermarket chain, said the extra costs would in part be offset by increased food sales and the business rates holiday from the government.

Estimated in a range of £200 million to £275 million, the additional costs include increases in payroll, logistics, store expenses, investment in staff safety and the impact of social distancing measures.

ESM