More money for schools from the Co-op

The Co-op, what I still think of as that little corner shop on the high street, has announced a multi-million pound plan to expand its Co-op Academies Trust programme, and wants to treble the number of schools it sponsors.

Co-op to turbo charge academy schools plan
The Co-op is already the UK’s largest corporate sponsor of Academies, having opened three in the last year to take its current total to 12. Under the existing strategy, the Co-op takes over predominantly weak schools in economically challenged communities in the North, putting in place ambitious turnaround plans.

This announcement has made its rounds across the news websites, including The Sun.

Co-op plans to take over 28 more failing schools after turning around 12 academies
The group, best known for its stores and funeral services, took on its first academy in Manchester in 2010.

This one, from the Yorkshire Post newspaper, adds it on to an article about its announcement of a nationwide scheme to stock local products in its stores.

Co-op announces plans to support local producers
“W​e want these businesses to thrive in our communities and so we don’t seek exclusivity for instance – our ambition is for our stores to be at the heart of local life, connecting communities together and offering great quality products when and where our members and customers need them​,” he added.​

[…]

The ​Co-op ​said its a​cademies have enjoyed huge success, with a strategy designed to empower teachers and young people to work together for a better education and a better community, in line with the Co-op’s own values.

Tes.com emphasises the geographical aspect of the news.

Co-op ‘turbo-charging’ academies sponsorship in bid to boost the North
The announcement comes after a report by Children’s Commissioner Anne Longfield last month highlighted that children from poorer homes in northern England face an education gap that starts before school and widens over time.

The Northern Powerhouse Partnership has also called on businesses in the North to do more to help close the skills gap with the South.

The Telegraph’s account is from a more financial viewpoint.

Co-op returns to profit as it bounces back from bank woes
The Co-operative Group’s boss shrugged off the chaos afflicting Britain’s high streets as the mutual announced it had returned to the black after selling its stake in the troubled Co-operative Bank.

The company, which runs food shops and funeral parlours as well as offering insurance and legal services, made a pre-tax profit of £72m in the year to Jan 6, up from a £132m loss the year before.

[…]

The Co-op also announced plans to sponsor 28 academy schools in the next three years in addition to the 12 it already has. It hopes to hire 250-300 workers from the schools by 2022, but Mr Murrells said the move was based on its aim to “do good in society” rather than for business reasons.

This must be all too much for the Independent. Yes, the Co-op’s doing well at the moment, but it won’t last.

Co-op: Roaring back and in the black but is it just a bit too busy?
That sort of thing is what might make long term watchers of this institution shudder. Just a bit. It has uncomfortable echoes of what the business used to do in the bad old days when it was cursed with executives who, as eventually became clear, were much better at politicking and unveiling grandiose plans with great fanfare than they were at business.