In 2017, the Co-op is planning to open 100 new food stores which will create 1,500 jobs.

With an investment of £70 million, the initial focus will be on London and the South East, with a plan to open five stores in the capital by March.

Other areas with new stores opening include, Sheffield, Beverley in East Yorkshire, Swansea, Northfields in East Lothian and Kings Bromley in Staffordshire.

Stuart Hookins, Director, said: "The Co-op has a clear food strategy, which is to deliver a great and convenient shopping experience for millions of members and customers on a daily basis. 

"As part of this strategy, our acquisitions programme is fundamental to its success and we are actively seeking new opportunities.

"Whilst other retailers are scaling back their expansion plans, the Co-op continues to open new convenience stores. We opened 100 stores in 2016 and we plan to open hundreds more new stores over the next few years.

"We are the fastest growing non-discounter and most frequently visited. Our new stores will ensure even more shoppers can visit the Co-op."

Adding his comment, Greg Clark, business secretary said the move was “fantastic”, saying: "This Government is determined to create an economy that works for all, which is why our upcoming industrial strategy will focus on creating an environment where businesses big and small can thrive."