Fashion and Home Proposals
You will be aware that Midlands Co-operative Society today announced a proposal for the Fashion and Home business to cease trading during 2013.
NACO is now in formal consultation with the business regarding this proposal, which will last for 90 days, and will seek to represent the view of membership both collectively and individually.
The business has proposed ceasing trading on economic and financial grounds. NACO understands the business has incurred losses in the region of £10 million in the past five years, and has projected losses in excess of £20 million over the next five years.
Breadth of Proposals
The Fashion and Home business employs 458 colleagues. 407 colleagues, including 10 NACO members, will be put at risk of redundancy as a result of this announcement. The proposals detail the closure of the following locations:
- Chesterfield Department Store
- Chesterfield Warehouse
- Coalville Department Store
- Derby Department Store
- Ilkeston Department Store
- Long Eaton Bed Centre
- Stafford Department Store
- TV Service and Repair Centre (based in Kent’s Moat Foodstore, Birmingham)
- West Bridgford Fashion and Home
- Wigston Department Store
- Fashion and Home Management, Lichfield
Should the proposals be realised, the business has agreed to fully investigate redeployment opportunities within the society. If suitable alternative employment cannot be found, compulsory redundancy will be the default position for colleagues. NACO members' redundancy awards will be in line with the NODMA National Agreement.
To discuss any aspect of the business's proposals, please contact the NACO National Office to speak with an official.