Co-op has announced it will launch over 50 new or refurbished stores across the UK before Christmas as it renews its call for the government to lower business rates.

The retailer said the move takes its investment to more than £200 million across 2024 and 2025 in over 200 new and transformed stores.

The stores are in a variety of formats and locations, with Co-op saying they reflect the vastness and diversity of communities it operates in.

The new stores include one in the new Brent Cross Town development, as well as a new franchise store on Lancaster University campus, which takes the number of university campus Co-op franchised stores to 11.

Co-op will also open five new micro-format “on-the-go” food stores, which are roughly a quarter of the size of a normal Co-op and located in high-traffic areas.

The company launched the new format in August this year.

The retailer said its investment in the new stores underlines its confidence in the future of local, physical retail and its commitment to creating value for members, colleagues and communities.

Co-op said that long-term investment confidence across the retail sector now depends on the government following through on the promised reform of business rates, which will give retailers the certainty they need to plan, invest and protect jobs.

Last month, Co-op highlighted new research which claims that 60,000 small shops and around 150,000 jobs could disappear without the reform of business rates.

The findings, based on a YouGov survey and data from Opinion Matters, found that 60 per cent of UK adults lack confidence that the government will deliver on its promise of relief for small businesses, despite repeated pledges in previous budgets.

According to the figures, if reforms are not delivered in the upcoming Autumn Budget, around 10 per cent of small High Street business owners say they would need to lay off staff, while one in eight say they would be at risk of closure.

Co-op said this would cause “tens of thousands” of closures nationwide, with significant economic and employment consequences.

Shirine Khoury-Haq, Co-op group chief executive said business rates reform is “vital” if retailers, especially the majority who run small stores, are to plan with confidence to protect jobs and their local communities.

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