Britain’s Co-operative Group made a loss of 2.5 billion pounds, (three billion euros), last year.
Co-op was hit by an exodus of top executives and a massive funding gap at its bank.
The group says the results, which highlight fundamental failings in management, are a wake-up call to its serious challenges.
Co-op’s reputation was further tarnished by a drugs scandal involving its then bank chairman, Paul Flowers.
The former Methodist minister was charged with drugs offenceson charges related to possession of cocaine, methamphetamine and ketamine.