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Hope for Co-op rescue deal

PUBLISHED: 15:48 28 May 2009 | UPDATED: 14:01 03 July 2010

GREAT Yarmouth could be spared further jobs misery after bosses of the town's under-threat Co-op store announced a rescue deal.

Staff at the Market Place store were told at the end of April that all 30 jobs were at risk as a 30-day consultation period got underway.

GREAT Yarmouth could be spared further jobs misery after bosses of the town's under-threat Co-op store announced a rescue deal.

Staff at the Market Place store were told at the end of April that all 30 jobs were at risk as a 30-day consultation period got underway. A total of 140 jobs at four stores including Yarmouth and Norwich were at risk.

On Wednesday the East of England Co-operative Society said it was in discussion with another retail operator, with a view to that organisation taking over the four department stores as a going concern.

The deal would secure the employment of the total 140 employs involved.

Richard Samson, chief executive of the East of England Co-operative Society, said: “We are in negotiation with another retailer to take over the four department stores that are at risk. It is our hope that these negotiations will be successful and we will be able to secure the jobs of all our employees at the four stores concerned.”

Yarmouth's Co-op store has been trading from the same site since 1935 and is among the largest outlets operated by the East of England Co-operative Society.

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