Move to cut one in five outlets means bank has more than halved number of branches since 2018
Virgin Money has announced it will close 31 branches – almost all in Scotland and the north of England – in the latest stage of the UK banking sector’s retreat from the high street.
The bank said it expected to make 112 jobs redundant because of the closures after the coronavirus pandemic accelerated the shift to online and mobile app-based banking, a move that has rapidly reduced the profitability of physical bank branches.