Why the closure of Virgin Money branch at The Nook South Shields has been postponed until further notice
and live on Freeview channel 276
The bank on Prince Edward Road was earmarked for closure on August 24, 2020 as part of the Virgin Money’s nationwide restructuring process.
It was one of three North East branches, along with Low Fell and Gateshead, due to close after reporting a fall in customer numbers.
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Hide AdBut the company has since called off all closures and job cuts until further notice, as a result of the Covid-19 outbreak.
The planned changes came about following the acquisition of Virgin Money by Clydesdale and Yorkshire Bank in 2018.
They included the closure of 22 branches, consolidation of a further 30 branches and 500 job losses across the UK.
Lucy Dimes, group business transformation officer at Virgin Money UK, commented: “Our primary focus is on supporting our customers and protecting our colleagues during this challenging time. As a result of the impact of coronavirus in the UK, we have decided not to proceed with the integration changes we announced in February.”
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Hide AdSouth Tyneside customers who launched a petition to save The Nook’s last remaining bank from closing its doors, have now welcomed the news.
Colin Campbell – who had been in contact with the company over the plans – has urged people to use this as an opportunity to show how much the branch would be missed.
“This is great news and gives us an opportunity to show how needed the branch is,” he said.
“It will be a huge miss if it goes. Many elderly and disabled people use the bank at The Nook, and the town centre branch is two miles away.”
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Hide AdAccording to Virgin Money the Prince Edward Road branch has seen a 25 percent decrease in counter transactions in the last five years.
Colin added: “I would encourage more people to open an account there and use the branch while we still can.
“It’s a lifeline for so many people and hopefully this will lead to it staying open permanently.”