Britain's Co-operative Group has said that it is aware of an over £450 million (€507.3 million) legal claim issued by the liquidators of The Food Retailer Operations Limited which it is disputing.
The Co-op, which is owned by its members, and operates Britain's seventh largest supermarket chain as well as funeral, insurance and legal services, said the claim was in connection with transactions in 2015 and 2016 relating to the Somerfield supermarket business it acquired in 2009.
"Co-op strongly disputes both liability and quantum of the claim and the claim will be vigorously defended," it said in a statement.
PayPal Platform
Last week, Co-op announced the launch of a new digital payment option using PayPal for its shoppers. Customers can now pay for their groceries, online home delivery orders, and click-and-collect via Co-op’s online shop (shop.coop.co.uk) using PayPal without having to enter their credit card or financial details.
According to PayPal, the partnership with Co-op allows for additional convenience and choice for communities across the UK when shopping for groceries.
Along with PayPal, Co-op's online shop also offers other payment options such as Google Pay, Apple Pay, Mastercard, and Visa. In 2019, Co-op launched its online shop and now provides online services through over 2,000 stores across the UK.
News by Reuters, edited by by ESM – your source for the latest retail news. Click subscribe to sign up to ESM: European Supermarket Magazine.
