The Co-operative Group has announced that it is considering the sale of its community pharmacies, following the news that the group is about to report a loss of over £2 billion. The member-owned group, which operates nearly 4,500 retail outlets across the UK, including banks, supermarkets and funeral homes, also announced that it would be selling its farming business.

It is believed that the Co-operative Group’s losses have stemmed from its banking unit, together with a fall in the value of the stores and goodwill it acquired from its takeover of Somerfield in 2009. The group’s decision to sell its 15 farms and consider selling all or some of its 750 pharmacies came out of an ongoing strategic review with its members and customers.