Virgin Money, Yorkshire and Clydesdale banks to press ahead with 52 closures from August

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Virgin Money is to press ahead with 52 bank branch closures, after a three month hiatus following the coronavirus pandemic.

The lender said closures will start in August, while 30 more will be consolidated, following a merger with Clydesdale and Yorkshire Bank in 2018.

A total of 300 jobs will be axed, though it said this is significantly smaller than the previous 500 estimate.

It will also offer staff affected by branch closures the option to remain with the group until October 20 to help offer support to vulnerable customers.

As part of the shake-up, all Clydesdale Bank and Yorkshire Bank branches will also be rebranded under the Virgin Money banner.

Lucy Dimes, group business transformation officer at Virgin Money UK, said: “While the decision to recommence these redundancies and branch closures has not been taken lightly, we are committed to integrating Virgin Money under one brand as a sustainable, innovative business that invests in improving its customer offer for the future.

“The measures we’ve put in place during the lockdown will continue to help customers engage with alternative and improved ways of banking with us.”

The group – formerly known as CYBG – announced plans to axe 500 full-time roles back in February.

In its update on July 1, it said it had been able to reduce the number of head office roles being cut due to more staff working from home, while it is also keeping more business banking contact centre employees to help small firms amid the crisis.

CYBG paid £1.7billion for Virgin Money in 2018 as it tried to get a foothold to challenge the bigger players – the company is to rebrand to Virgin Money in 2021. It already operates under the same banking licence.

At the time, it warned that around 16% of the combined workforce would be cut, losing 1,500 jobs across the group. The 300 roles are part of this restructuring.

Virgin Money said the branch closures would allow the bank to ensure it has a network that is “fit for the future” and reflects how customers want to use its services.

Crieff – West High Street

Dingwall – Park House

Dumbarton – High Street

Dyce – Victoria Street

Edinburgh – Bankhead Avenue, Sighthill

Wishaw – Stewarton Street

Birkenhead – Princes Pavement

Bridlington – Queen Street

Brighouse – Bradford Road

Cannock – Market Place

Gloucester – Northgate Street

Leeds – Harehills Lane

Morley – Queen Street

Pontefract – Ropergate

Sheffield –  Lound Side, Chapeltown

Warrington – Buttermarket Street

Wombwell – High Street

Worksop – Bridge Street

Gateshead – Interchange Centre

Giffnock – Fenwick Road

Low Fell – Durham Road

South Shields – Prince Edward Rd

Glasgow – Queen Street

Hull – Prospect Centre

Leicester – Horsefair Street

Peterborough – Church Street

Sheffield – Fargate

Sunderland – Blandford Street

Aberdeen – Union Street

Birmingham – Temple Street

Bolton – Bradshawgate

Carlisle – Devonshire Street

Coventry – Hertford Street

Darlington – High Row

Derby – Corn Market

Dundee – High Street

Edinburgh – Castle Street

Edinburgh lounge – St Andrew Sq

Hartlepool – York Road

Kendal – Stricklandgate

Leeds – Briggate

Manchester – Princess Street

Middlesbrough – Linthorpe Road

Newcastle – Market Street

Norwich – Castle Street

Nottingham – Beastmarket Hill

Oldham – Yorkshire Street

Preston – Fishergate

Stockport – Great Underbank

Stockton – Dovecot Street

Sunderland – The Bridges

York – New Street

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