Summary
The Co-op has been compelled to disable parts of its IT systems following an attempted cyber attack. Despite this disruption, the Manchester-based company reassures that all its stores, including grocery outlets and funeral homes, are still operational. Meanwhile, rival Marks & Spencer (M&S) grapples with the aftermath of a significant cyber incident that recently saw nearly £700 million wiped off its market valuation.
Key Points
- The Co-op has had to shut down parts of its IT systems due to an attempted hack.
- Some back-office and call centre services have been affected, but shops remain operational.
- Marks & Spencer (M&S) continues to manage the consequences of a major cyber incident.
- M&S experienced a drop in shares by approximately £700 million since the cyber attack.
- City AM reported a slight recovery in M&S shares as they work to resolve the cyber attack issues.
Why should I read this?
If you’re at all interested in cybersecurity or just want to keep up with the latest business news, this article is a must-read! It highlights the ongoing struggles faced by major retailers like the Co-op and M&S, which have become targets in the cyber landscape. Staying informed about such incidents can help you understand the evolving threats businesses face today—and who doesn’t want to be in the loop?