The troubled Co-op Bank is in talks to merge with the Food Bank in an attempt to prevent branch closures and save jobs.
Spokesman for the Co-op, Andrew Gilhooley said, “It’s genius really. Despite of our current troubles, we still have a lot of goodwill from the public for our ethical policies over the years. Merging with the Food Bank merely reinforces the fact that we’re forward looking”.
The number of Food Banks has rocketed in recent months with a reported threefold increase in uptake of the service in the last year. Brokers today commented on the success of the project and were keen to explore how the techniques used by the Food Bank could be applied to the troubled financial institution. Brendan Wright, Chair of the working committee, stated, “Of course, there are the naysayers who suggest that the growth in Food Banks is a bad thing, coming from other problems like unemployment and benefit cuts. But we’re taking a pragmatic approach here. The boom in visibility and the press coverage they have can only be enhanced by a merger with the Co-op, and vice versa”.
Discussions are due to be held on the potential conflict of interests if the merger goes ahead as far as Co-op supermarkets are concerned. Co-op Funeralcare were unperturbed by the merger. Co-op Legal Services are set to be televised.