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MSE News: Lloyds branch sale to Co-op collapses
Former_MSE_Jamie
Posts: 98 Forumite
"Lloyds Banking Group's sale of more than 600 branches to the Co-operative Group has fallen through ..."
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Lloyds branch sale to Co-op collapses
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Lloyds branch sale to Co-op collapses
Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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Comments
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Hardly a big shock..wonder how they will write off the millions and millions for this one...probably like they have just done by not paying any staff bonus payments.
General Insurance arm up for sale...how long before the Co-op bank follows suit?Bit of a Florida Fan :j
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maemaesmummy wrote: »Hardly a big shock..wonder how they will write off the millions and millions for this one...probably like they have just done by not paying any staff bonus payments.
General Insurance arm up for sale...how long before the Co-op bank follows suit?
The Co Op? Lloyds staff were paid bonus last month (those that qualified).0 -
Yes, the co-op no-one got the annual bonus this year....well except for the high up bods earning loads lolBit of a Florida Fan :j
8/12/08 Highlands Reserve, 3/12/09 Calaby Parc
18/8/10 Villa Upper Class 19/12/10 Villa Upper Class
10/08/11 C P Tower Lake 10/12/11 C P Tower Lake
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So Lloyds has spent millions preparing their branches for sale to the Co-op only for it to have fallen through.
RBS has spent millions preparing their branches for sale to Santander only for it to have fallen through.
The European commission must be really happy.
Perhaps Lloyds ought to sell their branches to RBS for about the same price as RBS sells their branches to Lloyds?
Funny, I haven't heard anything from the EC that is forcing the Spanish banks to sell branches even though they received millions in state aid.
Probably another case of only the British being foolish enough to follow EC rules ...RaspberryFool
Men are from Mars, Women are from ... Cadburys!0 -
Don't know about Lloyds spending millions but the Co-op has....wonder how the contractors they employed to work on Verde at £500 a day are feeling right now!!Bit of a Florida Fan :j
8/12/08 Highlands Reserve, 3/12/09 Calaby Parc
18/8/10 Villa Upper Class 19/12/10 Villa Upper Class
10/08/11 C P Tower Lake 10/12/11 C P Tower Lake
28/4/12 Emerald Island 22/7/12 Florida for 6 weeks
13/12/12 4 weeks C P Tower Lake 13/2 Prize win Orlando0 -
maemaesmummy wrote: »Don't know about Lloyds spending millions but the Co-op has....wonder how the contractors they employed to work on Verde at £500 a day are feeling right now!!
Probably feeling nothing and enjoying the fact they got £500 per day out of it!!!!Time is a path from the past to the future and back again. The present is the crossroads of both. :cool:0 -
dr_adidas01 wrote: »Probably feeling nothing and enjoying the fact they got £500 per day out of it!!!!
Yes but a bit peeved it's ending sooner that they thought...although I hear Lloyds are in the market for some contractors now lol :rotfl:Bit of a Florida Fan :j
8/12/08 Highlands Reserve, 3/12/09 Calaby Parc
18/8/10 Villa Upper Class 19/12/10 Villa Upper Class
10/08/11 C P Tower Lake 10/12/11 C P Tower Lake
28/4/12 Emerald Island 22/7/12 Florida for 6 weeks
13/12/12 4 weeks C P Tower Lake 13/2 Prize win Orlando0 -
maemaesmummy wrote: »Hardly a big shock..wonder how they will write off the millions and millions for this one...probably like they have just done by not paying any staff bonus payments.
General Insurance arm up for sale...how long before the Co-op bank follows suit?
maemaesmummy - do you work at co-op? Whats morale there like? I read in the news the Group had suffered a 599m loss last year so this must be pretty bad news for the staff.0 -
maemaesmummy - do you work at co-op? Whats morale there like? I read in the news the Group had suffered a 599m loss last year so this must be pretty bad news for the staff.
I believe morale is low and a lot of staff are choosing to leave obviously the non payment of bonus has gone a long way towards staff feelings Back in the day they actually used to care about the staff and were well known for being a great employer, sadly this is no longer the case. Old management were replaced and new brought in.
I believe the next round of job cuts will be made soon...:(Bit of a Florida Fan :j
8/12/08 Highlands Reserve, 3/12/09 Calaby Parc
18/8/10 Villa Upper Class 19/12/10 Villa Upper Class
10/08/11 C P Tower Lake 10/12/11 C P Tower Lake
28/4/12 Emerald Island 22/7/12 Florida for 6 weeks
13/12/12 4 weeks C P Tower Lake 13/2 Prize win Orlando0 -
They choose to write off the last debacle in those losses recently announced so guess they will do the same with the Finacle and Verde losses next year.
That's is there is a co-op bank left lol...and despite them saying they have no plans for that...I wouldn't hold my breath!Bit of a Florida Fan :j
8/12/08 Highlands Reserve, 3/12/09 Calaby Parc
18/8/10 Villa Upper Class 19/12/10 Villa Upper Class
10/08/11 C P Tower Lake 10/12/11 C P Tower Lake
28/4/12 Emerald Island 22/7/12 Florida for 6 weeks
13/12/12 4 weeks C P Tower Lake 13/2 Prize win Orlando0
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