Co-op grocery stores are set to restock shelves fully this weekend, following a cyber-attack that caused widespread shortages and disrupted online ordering systems.
Co-op Shelves to Be Fully Restocked This Weekend
Shoppers have found some empty shelves over the past few weeks, but Co-op customers should see stocks on shelves return to more normal levels this weekend. The company announced it is switching its online ordering system for suppliers back on after a cyber-attack.
A co-operative, also known as a co-op, is a business owned and controlled by its members, who share resources and work together to achieve common goals.
Members typically have equal voting rights and benefits, such as lower prices or exclusive services.
Co-ops can be found in various sectors, including retail, agriculture, finance, and healthcare.
They often prioritize social and environmental responsibility alongside profit maximization.
The hack resulted in ‘payment problems, widespread shortages of goods in shops, and compromised customer and staff data.’ The criminals claimed responsibility using the cyber crime service DragonForce and also targeted Marks and Spencer (M&S) and attempted to hack Harrods earlier this month.
Co-op is bringing its systems ‘gradually back online in a safe and controlled manner.’ Earlier this month, cyber criminals infiltrated the Co-op’s IT networks apparently trying to extort money from the grocery chain. The company moved to limit the impact of the attack by shutting down some IT systems, including parts of its supply chain and logistics operations.
This disruption has been particularly challenging for rural communities, where the retailer is often the only large food shop. However, Co-op says this should improve in the coming days both in-store and online as it works with its suppliers to restock. All payments systems, including contactless payments, are now back up and running.
Despite the progress made by the company, experts caution that the cyber-attack will have a lasting impact on the Co-op. The reputational damage from such an attack can linger, according to Prof Oli Buckley, a cyber security expert at Loughborough University. Rebuilding trust is more challenging than recovering from the immediate effects of the attack.
The costs of recovery and upgrading security systems could also have a long-lasting ripple effect on the company’s finances. Customers may become more cautious about sharing personal and financial information, as noted by Dr Harjinder Lallie, reader in cyber security at the University of Warwick.
