The Rochdale Pioneers have been turning in their graves. It is unlikely that the Co-op Movement has ever been thrust so savagely into the media spotlight during its 153 chequered years. But although the much publicised bid by City whizzkid Andrew Regan to buy the Co-operative Wholesale Society was billed as one of the most audacious in trade history, the real surprise was that an attempt had not been made before. Over the years a lot of shrewd co-op people must have known in their hearts that it would happen one day, despite their efforts to hang onto the spirit of co-operation born in Lancashire's cobbled streets so many years ago. While the City has been contemptuous of the co-op's trading activities and imagery, it has missed opportunities to highlight the assets it contains. However, this week it was suggested that hungry buyers had been waiting in the wings eager to pick up larger Co-op supermarkets should the bid have been successful. The CWS has enjoyed a hot and cold relationship with retail societies. It has often been the butt for criticism from their ranks, but when it has come to the crunch, its expertise and financial muscle, in the shape of the Co-op Bank in particular, has quickly been sought. And while, for nearly 40 years, the Movement has suffered from the jibe that it is an underperformer in the high street some co-ops have brightened that gloom by emulating the multiples and carving profitable regional niches. Removing the CWS from their lives by voting for a Regan takeover might have brought a short-term windfall for some societies, but what would have happened come that next period of trading adversity when the so familiar helpline in Manchester failed to respond? Movement insiders insist that shareholding societies would have thought long and hard before throwing their lot in with Regan. But even though the thrusting City entrepreneur has withdrawn, the beleaguered CWS will never be the same again. Other predators have now been awakened to the opportunities.{{NEWS}}

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