Why the closure of Virgin Money branch at The Nook South Shields has been postponed until further notice

Campaigners have welcomed the decision to call off the planned closure of the Virgin Money branch at The Nook due to the coronavirus pandemic.
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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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But the company has since called off all closures and job cuts until further notice, as a result of the Covid-19 outbreak.

Virgin Money has postponed plans to close its branch at The Nook, South Shields.Virgin Money has postponed plans to close its branch at The Nook, South Shields.
Virgin Money has postponed plans to close its branch at The Nook, South Shields.

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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Virgin Money customer, Colin Campbell launched a petition to save the bank earlier this year.Virgin Money customer, Colin Campbell launched a petition to save the bank earlier this year.
Virgin Money customer, Colin Campbell launched a petition to save the bank earlier this year.

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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According 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.”

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