Over 40 jobs at risk as agency chain plans to shut four branches

Local media in the east Midlands report that four estate agency offices operated by the Nottingham building society are to close - three of them in the town of Northampton.

The Northampton Chronicle and Echo website says that over the past five years the society has increased its number of branches from 32 to over 60, but that four are now earmarked for closure in May - Bushmead Luton, Duston, East Hunsbury and Northampton.

The newspaper quotes David Marlow, chief executive officer, saying: “We are not immune to the challenging estate agency market, which has already impacted some of the biggest industry names, and where an estate agency branch is not profitable or performing at a loss, and lacks the potential to contribute to our membership growth we have had to make the difficult decision to consider closure. 

“Our key focus at the moment is working closely with employees and customers affected by the changes and providing them with the support they need during this unsettling time.”

The site says around 41 posts are affected and The Nottingham has started a period of consultation with staff. 

“Following a 'rigorous assessment,' the society has concluded that these four locations do not have sufficient potential to justify adding building society services” says the newspaper.

It adds that vendors affected by the proposed changes are being contacted: “Our plans have ensured that they should not be affected by these planned closures” says Marlow.