A Lichfield retailer has been named in the top five co-operatives in the UK for the second year in a row.
Central England Co-op – which operates more than 400 food stores, funeral homes and florists – was named fifth in the top 100 in the Co-op Economy Report.
The company was named alongside the likes of John Lewis and Arla Foods at the top of the table.
The Co-op Economy report reveals turnover, membership and employee figures for thousands of co-op enterprises across the country, with the 2021 study revealing that such businesses were four times less likely to go bust than other companies.
Co-operatives UK chief executive Rose Marley said:
“We know co-operatives are resilient and sustainable businesses, but it’s not just their resilience that is critical to reducing the inequalities in the UK – it’s fundamentally about ownership.
“People are looking for a stake in the places they live, work and consume and the co-op model distributes this decision-making power.
“Why are co-ops so resilient? The co-operative purpose, ownership and governance all dictate long-termism.
“In an economic shock it’s the members calling the shots in their collective, long-term interests, not investors making decisions based on short-term returns.
“We are increasingly excited by the growth and interest in what is becoming known as the democratic economy – and co-ops also anchor wealth in local communities, which brings a whole plethora of additional benefits.
“We’re now calling for more business support to grow this increasingly valuable sector. To have even more impact in terms of levelling up the economy, co-ops need the support that other business models receive as a matter of course.
“Co-ops have been marginalised and underrated for far too long.”
Rose Marley, Co-operatives UK
The bosses of nine of the largest retail societies in the UK, including Central England Co-op, have jointly written to Chancellor Rishi Sunak calling for more tailored business support for co-operatives.
