LONDON, Feb 17 (Reuters) - Britain’s Co-operative Group, whose banking arm in fell into the control of bondholders after regulators discovered a 1.5 billion pound ($2.5 billion) capital hole, is carrying out a national survey on the future strategy for the 150 year old group.
“We will be asking people up and down the country what they believe The Co-operative should really stand for,” said the group’s chief executive Euan Sutherland. “The results will feed directly into our wider review of strategy and purpose.”
Beyond its minority stake in the Co-operative Bank, the Co-operative Group’s interest include a chain of supermarkets, pharmacies and funeral homes. The public consultation on the group’s future runs until March 24.
$1 = 0.5977 British pounds Reporting by Laura Noonan; Editing by Mark Potter