Northern Co-operative Society: Difference between revisions
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==History== |
==History== |
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Norco was formed in [[1861]] as Northern Co-operative Company, by two committees of Aberdeen residents who planned to follow the example of the [[Rochdale Equitable Pioneers Society]].<ref name="archive" /> |
Norco was formed in [[1861]] as Northern Co-operative Company, by two committees of Aberdeen residents who planned to follow the example of the [[Rochdale Equitable Pioneers Society]].<ref name="archive" /> |
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The first shop was a grocery business at 51 Gallowgate, opened in July that year.<ref name="archive" /> The original company had a fixed capital of £1000, but in 1917, it converted into Northern Co-operative Society.<ref name="archive" /> |
The first shop was a grocery business at 51 Gallowgate, opened in July that year.<ref name="archive" /> The original company had a fixed capital of £1000, but in 1917, it converted into Northern Co-operative Society.<ref name="archive" /> |
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Norco House, a large department store that replaced several smaller non-food stores, was opened in George Street in 1970.<ref name="archive" /> |
Norco House, a large [[department store]] that replaced several smaller non-food stores, was opened in George Street in 1970.<ref name="archive" /> |
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The trading name of Norco was soon adopted by the entire co-operative.<ref name="archive" /> |
The trading name of Norco was soon adopted by the entire co-operative.<ref name="archive" /> |
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The Berryden store was sold to the “Scottish Co-op″ retail division of the Co-operative Wholesale Society in 1993, immediately before the liquidation, and operated by them for seven years.<ref name="archive" /> |
The Berryden store was sold to the “Scottish Co-op″ retail division of the Co-operative Wholesale Society in 1993, immediately before the liquidation, and operated by them for seven years.<ref name="archive" /> |
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In April 1992, Norco declared a loss of £7 million, and the chief executive resigned.<ref name="archive" /> |
In April 1992, Norco declared a loss of £7 million, and the chief executive resigned.<ref name="archive" /> |
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Revision as of 21:30, 8 July 2008
Northern Co-operative Society Limited (Norco), previously named Northern Co-operative Company Limited, was a local consumer co-operative trading in Aberdeen, Scotland, from 1861 to 1993.[1][2]
It was put into liquidation in 1993 as a result of financial difficulties that The Guardian newspaper attributed to “an over-ambitious building and development programme” and failed attempts to sell the entire business as a going concern, despite the successful sale of its dairy, five pharmacies, and then several supermarkets to Argyll Stores and the Co-operative Wholesale Society.[1][2]
History
Norco was formed in 1861 as Northern Co-operative Company, by two committees of Aberdeen residents who planned to follow the example of the Rochdale Equitable Pioneers Society.[1] The first shop was a grocery business at 51 Gallowgate, opened in July that year.[1] The original company had a fixed capital of £1000, but in 1917, it converted into Northern Co-operative Society.[1]
Norco House, a large department store that replaced several smaller non-food stores, was opened in George Street in 1970.[1] The trading name of Norco was soon adopted by the entire co-operative.[1]
In 1977, it opened a 54,000 square feet (5,000 m2) flagship superstore in the Berryden district of Aberdeen.[1][3] The Berryden store was sold to the “Scottish Co-op″ retail division of the Co-operative Wholesale Society in 1993, immediately before the liquidation, and operated by them for seven years.[1]
In April 1992, Norco declared a loss of £7 million, and the chief executive resigned.[1] Emergency measures included the massive sell-off of businesses, and a pay freeze.[1] Finally, in 1993, the co-operative approached Scottish Co-op with a view to a rescue merger, but this was declined.[1][2]
Operations and co-operative movement
It was previously noted as the only large consumer co-operative in the UK not to be a member of the Scottish or English Co-operative Wholesale Societies.
It employed 2000 people in 1992, when the financial problems became apparent, and on going into receivership in June 1993, it had 800 employees.[2]
Its trading area included the Aberdeenshire towns of Inverurie, Port Elphinstone and Kemnay, and at its peak, had branches and departments throughout the city of Aberdeen.[1] Since the demise of Norco, Scotmid Co-operative, Lothian, Borders & Angus Co-operative and the Co-operative Group have continued or revived the tradition of consumer co-operation in Aberdeenshire.
References
- ^ a b c d e f g h i j k l m "NORCO - Records of the Northern Co-operative Society". Aberdeen City Archives.
- ^ a b c d Seumas Milne (1993-06-18). "Scottish co-op calls in receiver". The Guardian. via Proquest News UK. Retrieved 2008-07-04.
- ^ a b "MORE CWS SUPERSTORES SOLD". The Grocer. via Find Articles at BNET. 2000-09-16.
Sainsbury has purchased the 53,600sq ft store at Berryden,Aberdeen
- ^ "retailing UK News 2000". UK Business Park. 2000-09-12.
- ^ Bob Reid (2003-09-23). "Retail Study Report" (PDF). Aberdeen City Council Resources Management Committee. p. 5.
Sainsbury's have taken over the Scottish Co-op superstore at Berryden
External links
- "NORCO - Records of the Northern Co-operative Society". Aberdeen City Archives.
- Seumas Milne (1993-06-18). "Scottish co-op calls in receiver". The Guardian.