Co-op sells town store to rival

The co-operative recently acquired Somerfield

The Co-operative has sold a supermarket in Aberystwyth as a going concern to rival company CK's Supermarkets.

The store neighbours the Ceredigion seaside town's university and is popular with students and other residents living nearby.

The Co-operative said by selling one of its two stores in Aberystwyth it was addressing competition rules after purchasing the Somerfield group.

A Somerfield in Aberystwyth will be rebranded a Co-op within two years.

The Co-operative said the branch in the Waunfawr area of the town had been sold as a going concern and staff would "automatically transfer to CK Supermarkets, with their terms and conditions of employment maintained under employment law".

A company spokeswoman said: "The acquisition of the Somerfield chain by The Co-operative Group, which has now been completed, was subject to The Co-operative addressing local competition issues identified by the Office of Fair Trading (OFT) in a small number of locations.

Food retailer

"The OFT identified Aberystwyth as one of the locations where it had competition concerns.

"To meet the requirements of the OFT, either the Somerfield store or the Waunfawr estate Co-operative Group store had to be sold as a going concern to another food retailer.

"I can confirm The Co-operative Group has agreed to sell The Co-operative to CK Supermarkets.

"The store will be sold as a going concern and staff will automatically transfer to CK Supermarkets, with their terms and conditions of employment maintained under employment law."

The company said a Post Office on the supermarket site would transfer to the new owners.

CK's Supermarkets has 18 stores throughout south and south west Wales.

Christopher Kiley from CK Supermarkets said: "We are delighted to confirm that CK's Supermarkets has acquired the Co-op store at Waun Fawr, Aberystwyth.

"I am also pleased to confirm that all jobs have been safeguarded with all members of staff transferring over to CK's.

"This acquisition, along with three others recently completed in Newtown and Treorchy, now brings our total number of stores to 21 meaning we are the largest independent food retailer in Wales.

"All jobs across all stores have been retained and we are excited about the opportunities these stores will create, least of all Aberystwyth - we look forward to a successful future in the town."