The Co-operative group is getting back to basics after a year of shedding businesses and cutting costs.
The company is looking to focus on convenience retail, and plans to open 100 small stores a year while selling off the largest of its outlets. It still has some 600 unwanted stores, some of which are rented out.
Asset sales will cut debt to £1 billion and provide £400 million in funds for reinvestment, particularly in its shops. A spokesman for the company described the performance of refurbished stores as encouraging.
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