Treasured Australian co-op at crossroads

26 November 2013

THE Macleay Regional Co-operative is approaching another crossroads, its chief executive officer said this week.

The future of its core business – the IGA Supa store in the centre of Kempsey – is in doubt, because of the market dominance of national supermarket chains, CEO Richard O’Leary said.

The Co-op also owns the IGA Xpress convenience store at South Kempsey and the Co-op Fitness Centre, as well as the Centrepoint Arcade in Kempsey’s CBD.

In the Co-op’s annual report, the CEO said the latest full-year results had not matched expectation and described the 2012-13 period as a “very disappointing financial year”.

Read more, Tough times leave Macleay Regional Co-op at crossroads, 22 Nov