LONDON Feb 26 Britain's struggling Co-operative
Group said on Wednesday it had kick started the sale of
its farms and was looking at selling part or all of its pharmacy
The company, which this month cautioned that it had lost
touch with its customers, said it had decided its farms were
"non-core" as part of a wider strategic review of all of its
"(The group) has started a process that is expected to lead
to a sale of the business," the company said in a statement on
"In addition, it is exploring options for the future of the
Pharmacy business; this could include the sale in whole or part
of the business."
A source familiar with the situation told Reuters the
process of selling its pharmacy arm was at an early stage while
the farms sale was more advanced.
The Co-op, whose banking arm has been hit by a capital
shortfall and drugs scandal involving its ex-chairman, is
undergoing a independent review of its operations.
The BBC, which reported earlier on Wednesday about Co-op's
farms and pharmacy business sales, also said that the group is
expected to announce full-year 2013 losses greater than 2
billion pounds ($3.34 billion) next month.
A Co-op spokesperson declined to comment on the BBC report.