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I don't see why CE should not support two branches nearby. The petrol station co-op seems hugely successful , always a long queue of shoppers keeping motorists waiting. This branch is in competition with the local convenience store on the opposite corner and has the huge advantages of more chilled cabinets, frozen foods, fresh bake and fresh meat, as well as the comfort of a big name to go with it. The re-vamped Budgen's will compete for the big shop, a niche which Waitrose seesm to have pretty well tied up just now.
I was in Kettering recently, a dead'n'alive hole in the East Midlands and whilst looking for somewhere to have a snack was surprised to discover it has three Subways in very close proximity!
(Do you like Kettering? I don't know , I've never Kettered)
I took part in a survey in the Coop around New Year,so I asked & they said no it would remain open, they are currently recruiting new staff too. The regular staff are very friendly & helpful..most of the staff I chat to at Budgens all seem to be keeping their jobs but will work for the Coop now.