THE Co-op is selling off 298 of its stores in a £117m deal, including its Whitefield shop.

The stores, including its shop in Fountain Place, have been sold to McColl’s with the change in ownership set to be completed in November.

All 3,808 of the Co-op's staff at affected stores across the country will transfer over to the new owners, under the same terms and conditions.

Bosses say Co-op wants to focus on its own-brand ranges, and that to achieve this it needs larger stores to stock its full range.

The stores being sold off have an average size of 1,700 sq ft, but the company wants sites of between 3,000 and 3,500 sq ft.

In addition, it plans to introduce a new discount scheme to encourage members to buy own-brand products.

Steve Murrells, CEO of Co-op Food, said: "The Co-op Food business continues to move forward with a clear momentum and purpose to deliver a compelling and convenient shopping experience for our millions of customers and members.

"Today’s announcement is completely in line with our strategy, as these stores did not allow us to provide a sufficiently compelling own-brand offer for our members going forwards.

"The proceeds will be re-invested to drive sustainable growth for our members and I’m delighted that all 3,808 colleagues will transfer to McColl’s on the same terms and conditions."