Thefts by staff and ‘leakage’ cost Co-op £1.4m
Thursday 28th January 2010, 2:56PM GMT.
The Co-op Grand Marché in St Helier
THE Channel Islands Co-operative Society lost more than £1.4m in ‘unknown leakage’ in the year to 11 January 2009.
The sum includes between £425,000 and £560,000 estimated to have disappeared through theft by staff annually.
The figures were quoted at an Employment and Discrimination Tribunal in Guernsey, at which a former employee unsuccessfully claimed that he had been unfairly dismissed.
CI Co-op chief executive Jim Hopley said that while the figures might seem ‘horrific’, they were well within industry standards for a company that had a turnover of £142m in its food retail business last year.
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