It was put into the hands of a receiver for liquidation in 1993, as a result of financial difficulties that The Guardian newspaper attributed to "an over-ambitious building and development programme" and failed attempts to dispose of the entire business as a going concern, despite the successful sale of its dairy, five pharmacies, and then several supermarkets to Argyll Stores and the Co-operative Wholesale Society (CWS).
[1][2] Norco was formed in 1861 as Northern Co-operative Company, by two committees of Aberdeen residents who planned to follow the example of the Rochdale Equitable Pioneers Society.
It was described in 2000 as "like Convent Garden (sic) – a delightful, quaint area at the centre of the city where people could stroll" by Connie Leith, head of the Ferryhill Heritage Society.
[1] The "space-age" four storey Norco House department store was later bought, refurbished and operated by the John Lewis employee-owned chain.
[2] Its trading area included the Aberdeenshire and Moray towns of Banchory, Elgin, Ellon, Kemnay, Inverurie, Port Elphinstone and Westhill.