Co-op Reports £286 Million Loss Due to Cyber-Attack

The Co-op has announced a total loss of £286 million due to a cyber-attack that affected its IT networks in April. This incident resulted in £206 million in lost sales and £80 million in profit losses, causing significant operational disruptions and shortages of goods in stores. The breach underscores the critical need for enhanced cybersecurity measures in the retail sector to protect against future threats.