Shock at closure of C&G branches

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End of an era for C&G branches

For more than 100 years, it has held a special place on the high street - and in the hearts of the people of Gloucestershire.

But the banking crisis which has swept across the globe has now dealt a massive blow to the Cheltenham and Gloucester (C&G).

Parent company Lloyds has decided to close the network of 164 C&G branches with the loss of up to 1,600 jobs across the UK.

And while the announcement has been greeted with shock all over the country, it has been met with even deeper dismay in the area which bears its name.

In Gloucestershire alone, about 70 staff are to be made redundant with the closure of 10 branches.

Meanwhile, 1,200 staff at the C&G's headquarters in Barnwood, Gloucester, are waiting to hear how the change could affect them.

This will be very hard if there are any significant job losses - it is very sad. Mike Warburton, Grant Thornton

A Lloyds group spokesman said the restructuring announced would have a "minimal" impact on Barnwood's staffing.

He also said the C&G, which was founded in Cheltenham in 1850, would continue to offer customers an over-the-counter service via the Lloyds TSB network.

But the loss of the C&G name on the high street - and the redundancies which accompany it - is a devastating blow for the area.

Gloucestershire council's leader Barry Dare said he feared the news "would affect both the quality of life and employment in the county".

Mr Dare said: "I'm deeply disappointed. I'm a customer as well as a councillor.

"I use my branch in Moreton-in-Marsh regularly. In fact, I paid a cheque in yesterday.

"The convenience aspect for customers will be a blow. Many people who use the building society regularly will be seriously affected."

The loss of C&G shocked people in the area

Mike Warburton, tax partner at accountants Grant Thornton, said: "The C&G is one of the largest, if not the largest private sector employers in Gloucestershire and this will be very hard if there are any significant job losses - it is very sad.

"It's not a surprise, whenever there's a merger there are efficiency savings and this normally means jobs.

"We don't have the confirmed details yet but I think this is inevitable."

Ken Baldwin, 73, a C&G customer from Churchdown in Gloucester, said: "It came as a bit of a shock. This has been a long-established local building society.

"We celebrate our 50th wedding anniversary next year and it was the Cheltenham and Gloucester that gave us our first mortgage.

"We've got a 93-year-old mother who has an account here. We do her banking and put her money in and take it out. Neither I, or mother, has a computer so if it all goes online that's going to be a further problem to us."

Helen Sutton, 43, from Gloucester, said: "It's not fabulous because a lot of local people are going to lose their jobs and in this economic climate are they going to find another one?

"There's going to be a lot of children who may not get as fancy a holiday this year as they thought they were going to get because their parents have lost their jobs."