The regional retailer achieved its remarkable £4.6m turnaround after implementing a bold plan to reshape its business. It resulted in its profit before tax rising by £13.3m while turnover fell.

It closed its stonemasonry business HL Perfitt and transferred and leased its Felixstowe, Brightlingsea and Halstead supermarkets to new operators to provide it with guaranteed income while transferring staff jobs to its new tenants.

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(Image: East of England Co-op)

Last year it confirmed plans to sell or close and consolidate up to 13 branches across its food and funeral businesses in Suffolk, Norfolk and Essex as it focused on a return to sustainable profit.

In July its put its headquarters at Wherstead Park near Ipswich on the market.

It meant that while overall sales in its financial year to the end of January........

© Eastern Daily Press