As the FT notes this morning: The Co-operative Bank is preparing for multiple investigations lasting for years as regulators try to get to the bottom of the failures that unhinged the mutual. As pressure mounts for the bank to finalise its restructuring plan, probes by UK regulators are expected to be announced imminently and the Treasury
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I’m angry that the Co-op group is in a mess. As a member I have been let down. As a customer of the bank they’ve failed me. As a believer in the co-op approach to business I am disappointed that flagship co-op has failed so many other successful co-ops by its actions. I am annoyed
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I think this point is worth making: the Co-op Group is but one of 6,000 co-ops in the UK. The Co-op Group is in a mess. That happens to all businesses from time to time. But it does not mean that the co-op ideal is that tarnished. Or that the co-op movement is finished. Can
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FT.com / Companies / Industrial Goods – Clansman’s staff take co-operative approach. A thriving engineering company, Clansman Dynamics, is the latest Scottish venture to become an employee-owned business. Founded in 1994 by Dick Philbrick, Clansman makes robotic handling equipment for forges, foundries, steelworks and garbage handling. Employing 30 staff and with turnover of £7m ($11.3m),
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