Virgin Money, Yorkshire Bank and Clydesdale Bank are closing 52 branches - here’s the full list

Virgin Money, Yorkshire Bank and Clydesdale Bank are to close 52 branches over the course of this year.

The closures come as part of the company's restructuring plans (Photo: Shutterstock)
The closures come as part of the company's restructuring plans (Photo: Shutterstock)

Virgin Money, Yorkshire Bank and Clydesdale Bank are to close 52 branches over the course of this year.

A total of 22 Virgin Money branches will be closed under the company’s restructuring plans, with a further 30 to be merged over the next 12 months.

500 jobs to be axed

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    Virgin Money has announced plans to close a number of its branches in 2020, alongside a consolidation of 30, following a merger with Clydesdale and Yorkshire Bank in 2018.

    The bank is to close 12 Yorkshire Bank branches, six Clydesdale Banks and four Virgin Money locations as part of its restructure. The closures will see around 500 full-time equivalent roles cut across the business, including 215 in-branch positions.

    The banking group said the closures reflect the way that customers are using services now, with more now opting for online banking in favour of using traditional bank branch services.

    Virgin Money has said that it would find alternative roles for staff whose jobs are at risk, either within other stores locally, or elsewhere in the group, wherever possible.

    Clydesdale and Yorkshire Bank (CYBG) paid £1.7 billion for Virgin Money in 2018 in an effort to get a foothold so it could challenge competitors, with the company now rebranded as Virgin Money. At the time of the merger, the banking group warned that around 16 per cent of the combined workforce could be cut, amounting to 1,500 jobs losses across the group. The 500 roles that are now to be cut are part of this restructuring plan.

    ‘Fit for the future’

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

    The number of customers who want to use branches for day-to-day banking services has been falling for several years across all banks, according to Virgin. The banks said approximately 280,000 cheques were deposited by the bank’s mobile app last year, rather than in branches.

    In a statement, Lucy Dimes, group business transformation officer, said, “The decision to close branches is never taken lightly.

    “The changes announced today are focused on consolidating branches where there is another Clydesdale Bank/Yorkshire Bank/Virgin Money location within half a mile, as well as closing a number of branches to reflect changes to customer demand.”

    The closure of branches will begin in late May this year.

    Which branches will close?

    This is the full list of banks due to close this year:

    Clydesdale Bank

    Crieff – West High Street

    Dingwall – Park House

    Dumbarton – High Street

    Dyce – Victoria Street

    Edinburgh – Bankhead Avenue, Sighthill

    Wishaw – Stewarton Street

    Yorkshire Bank

    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

    Virgin Money

    Gateshead – Interchange Centre

    Giffnock – Fenwick Road

    Low Fell – Durham Road

    South Shields - Prince Edward Road

    Which branches will consolidate?

    This is the full list of banks that will consolidate in the next 12 months:

    Clydesdale Bank

    Glasgow – Queen Street

    Yorkshire Bank

    Hull – Prospect Centre

    Leicester – Horsefair Street

    Peterborough – Church Street

    Sheffield – Fargate

    Sunderland – Blandford Street

    Virgin Money

    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 Square

    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