Convenience specialist the Co-op has unveiled plans to open or refurbish dozens of stores, as part of plans to recover from the cyber attack, which laid it low earlier this year.

The retailer said that 50 stores will be opened or reopened by Christmas, as it urged the government to provide the sector with tangible business rates reforms ahead of the November 26 Budget.

The c-store specialist said reforms would be “vital” to encourage further high street investment, with its latest slew of openings taking Co-op’s total new store openings and refurbishments across the UK to more than 200 in the last financial year.

It means the Co-op will have invested over £200m in the financial year across its store estate.

Of the new stores it will open before Christmas, Co-op will launch 14 c-stores, five of its new micro-format ‘On the Go’ stores, and a new franchise store at Lancaster University.

The 30 remaining stores will be made up of sites that have been closed for a period of time to undergo extensive refurbishments and are set to be reopened with a new look and updated product ranges.

The plans are part of Co-op’s recovery from the major cyber attack it suffered earlier in the year. In September, the grocer said it expected the hack would have a £120m effect on its full-year profits and a £206m impact on sales.

On Monday (November 10) Co-op also made renewed calls for property tax reform and called on the government to provide the retail sector with increased certainty ahead of the autumn Budget.

Co-op Group chief executive Shirine Khoury-Haq said: “We’re investing in stores and communities right across the UK because we believe in the future of the high street.

“But sustained growth needs certainty. Business rates reform is vital if retailers – especially the 99% who run small stores – are to plan with confidence, protect jobs and keep local economies thriving.

“Co-op is showing what’s possible when businesses commit to communities.

“The Government now has an opportunity in the autumn Budget to do its part by delivering the reform that’s long been promised – giving every retailer, from small to large, the stability to invest and grow.”

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