Co-op is expected to shut 19 of its food stores across the UK this year in another blow to Britain’s dilapidating high street. The popular retail store has reportedly been hit by various financial factors, including the cost-of-living crisis, high rent, and increased operational costs.

The Central Co-op has revealed that stores across the Midlands and East Anglia will be closed by May, citing "financial sustainability issues", reports The Sun. Three of them will be converted into B&M stores, while the other 16 will be acquired by Samy Limited, an independent convenience chain that operates brands like Spar, Londis, and Premier. B&M will be leasing stores in Norfolk, West Midlands and Leicestershire and Samy’s is acquiring Central Co-op locations in areas such as South Yorkshire, Staffordshire, and Cambridgeshire.

These locations are part of a broader wave of closures within the company, which will also include the permanent shutdown of six funeral homes.

Meanwhile, the Co-operative Group is working on plans to start at least a further 120 grocery shops this year after profits skyrocketed more than fivefold, but told the government that "layering costs" on retailers could hit high streets and communities, reports The Guardian.

Debbie Robinson, chief executive at Central Co-op, said: "We’re committed to putting the welfare of our colleagues first when making these tough choices.