A group of 28 Rochdale residents, including 10 weavers, whose craft was notoriously suffering from the effects of the Industrial Revolution, established an early example of a consumer co-operative in 1844 which they named the Rochdale Co-operative Society of Equitable Pioneers. Over a period of four months, they managed to contribute an initial outlay of £1 each, and with their joint capital of £28, they opened a grocery shop offering basic supplies of oatmeal, flour, butter, sugar and candles. They were soon able to expand into other products, including tea and tobacco, and became the inspiration for over a thousand other British co-operatives within the next ten years. They are most famous today for articulating the Rochdale …
Editors. "Rochdale Co-operative Society of Equitable Pioneers established". The Literary Encyclopedia. First published 30 August 2013; last revised 30 November -1.
[http://www.litencyc.com/php/stopics.php?rec=true&UID=4870, accessed 18 April 2015.]