The Record reports:
The Co-op retail chain took a £206 million (about $274 million) hit to its revenues due to a cyberattack in April that led to empty store shelves and the theft of customer data.
The attack was one of several high-profile incidents in the spring affecting U.K. businesses, including the retail giant Marks & Spencer (M&S). Four people, including one teenage minor, were arrested in July in connection to the hacks on Co-op, M&S and Harrods. The hackers are reportedly believed to have ties to the Scattered Spider group — a loose-knit collection of young cybercriminals.
In an earnings report filed on Thursday, Co-op said its food business was hit hardest by the incident, “with availability reduced as systems were proactively taken offline.”
Read more at The Record.
