Karen comments on Co-operative Bank Rescue Package

Karen made a statement following the announcement of the Co-operative Bank’s new bailout plan yesterday. She said, "I am relieved to see that the Bank has a long term future for customers and bondholders alike. However, my concern is for the employees. We do not yet know how the bailout will affect those that work for the Bank, including the significant number of people still based at the old Britannia HQ in Leek. "I have met the Bank’s management regularly over the last few weeks and months, including the Chief Executive, Euan Sutherland, last week.  Prior to the new bailout, management was always keen to emphasise to me their commitment to keeping Leek as a Centre of Excellence for savings and mortgages.  I look forward to them delivering on that promise and that whilst it is clear that there will be job losses, the Moorlands does not suffer disproportionately."