Lloyds Bank to close Old Market Square branch attracting just 45 regular customers

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Lloyds is closing its Old Market Square branch in July.

Lloyds Bank will close its Nottingham Old Market Square branch later this month as part of a national programme of cuts.

The company announced it will close the branch at 5pm on July 31. Executives said the decision was made after the number of regular customers who use the branch at least once a week fell to just 45.

Total visits have also dropped by 33 per cent in 2016, Lloyds said.

Around 400 of the banking giant’s outlets are closing between July and October because of declining customer visits across its UK high street network.

“The Lloyds Bank, Old Market Square Nottingham branch will close on 31 July 2017, due to the changing ways customers choose to bank with us, which has resulted in customers using it less often,” a spokesman said.

“We apologise for any inconvenience that this may cause and have informed customers of the closest alternative branch, which is Nottingham Parliament St.”

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Lloyds announced the closure date in a sign posted on the front door.

Three free-to-use cash machines, one on the Old Market Square side of the branch, and two on the St James’ Street side, will also shut.

The spokesman added: “It is our aim to try and redeploy all colleagues affected by this announcement, and who wish to remain with the business, into an alternative role.

“Colleagues at Old Market Square Nottingham branch will also be able to indicate an interest in being considered for voluntary redundancy. We cannot at this stage confirm the number of colleagues at the branch who will be leaving the business.”

The spokesman declined to provide a figure for how many people are currently employed at the branch.

Unions have previously expressed anger at job losses caused by the programme. Several other high street chains, including RBS and Nat West, are also closing hundreds of branches.

“The continuous stream of branch closures announced by the UK’s retail bank branches appears to show no signs of ending,” said Unite national officer Rob MacGregor in April.

“The loss of a further 100 local banks will be painful for high streets across the country to absorb.”