‘Lenders seek review at Manchester Building Society’

THE lenders that bailed out Manchester Building Society - the city centre-based mutual - are reported to have hired an investment bank to oversee a review of its finances.

According to The Sunday Times, Rothschild has been brought in by Nationwide, Britain’s biggest building society, and the other lenders that supported the fundraising in April 2103.

The Manchester, which is based on Portland Street, was forced to raise £18m after racking up losses on a complex insurance contract linked to wholesale bor... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...