Co-op takes £80m cyber attack hit

THE Cooperative Group has disclosed an £80m blow to half-year profit following a destructive cyber attack earlier this year.

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The Co-operative Group has revealed it slumped to a half-year loss after taking an earnings hit of around £80 million from a “malicious” cyber attack in April. Co-op

The retail and funerals specialist revealed that it had tumbled into a loss in the first half of the year after being targeted by a “malicious” cyber attack.

Customers encountered bare shelves and payment difficulties during the aftermath of the cyber incident in April, as numerous retailers were affected.