Co-op members denounce Regan bid

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The Independent Online
Members of the Co-operative Wholesale Society queued up to denounce Andrew Regan's failed pounds 1.2bn bid for the business at its annual meeting in Manchester at the weekend. Ten speakers voiced their support for a motion proposed by the Scottish Southern regional committee. It urged the elected board "to take all necessary steps to ensure the society's assets are secured for current and future members".

The vote was passed by 70,284 to 0. Pat Watters of the Scottish Southern region said that although the CWS had stopped the Lanica bid it could not afford to be complacent. He went on to criticise the Co-op executives who were sacked for their role in the Lanica bid. "They came from outside the movement and hopefully they will now be outcasts from society. People like that deserve all that comes to them."