Major UK supermarket close to administration with 300 shops at risk

They have hundreds of stores.

The supermarket, which has hundreds of stores, could put thousands of jobs at risk should it fall into administration.

Southern Co-op have explained that three consecutive years of financial losses mean they are now on the brink of insolvency.

Their 'best case of survival' is to merge with the national Co-op Group.

In a statement they said: "Southern Co-op has made losses for the past three years.

"Over the last year, trading has become more difficult, and we have relied on ongoing support from our banks and suppliers to continue operating. That support cannot now be increased within the time available."

They have also warned that if members do not vote in support of joining the Co-op Group they will 'most likely' be forced into administration putting jobs at risk.

The statement read: "We know many members are asking whether there is another option." the letter said.

"We have asked the same question ourselves, repeatedly, over recent months. "The honest answer is that there is no solvent alternative available to us now which we could deliver in the time frame and without exposing the business to a much greater risk, and it's important that we are clear about what this means."