Nationwide closes branch in Tolworth (From Your Local Guardian)
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Nationwide closes branch in Tolworth
3:11pm Tuesday 17th March 2009 in Business News By Kerry Grove
Nationwide said the closure of its Tolworth branch was not a direct response to the recession
A Tolworth building society has been ordered to close because it is not making enough money.
After 31 years in Tolworth Broadway, Nationwide building society will close its doors for the final time on May 29.
The six staff employed there are likely to be made redundant but have been invited to apply for other internal jobs with Nationwide. The branch is among six to be closed across the country after an efficiency review.
Nationwide spokesman Steve Cowdry said Tolworth was axed because of “low sales, the close proximity of other branches and the investment needed to keep it going”.
He added: “There’s not the business there and we owe it to our membership as a whole to make sure we have viable, profitable branches.”
He said the review was not a direct response to the recession but the downturn may have had an impact on customer numbers.
