Clydesdale Bank owner Virgin Money halts plans for branch closures

By Hannah Burley
Published 31st Mar 2020, 17:38 BST
Updated 31st Mar 2020, 17:39 BST
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Virgin Money had been due to close six Clydesdale Bank outlets this year.Virgin Money had been due to close six Clydesdale Bank outlets this year.
Virgin Money had been due to close six Clydesdale Bank outlets this year.
Clydesdale Bank owner Virgin Money has shelved plans to axe 500 jobs and shut or merge more than 50 UK branches due to the coronavirus crisis.

The lender had been due to close 22 branches, including six Clydesdale Bank outlets, and consolidate another 30 while also rebranding the entire network as Virgin Money by October.

The banking giant said it would now not be going ahead with the measures “until further notice”. The group has previously warned around 16 per cent of the combined workforce will go due to the £1.7 billion takeover of Virgin Money.

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Lucy Dimes, group business transformation officer at Virgin Money UK, said: "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 c