Disappointment as HSBC announces bank closures

The British Independent Retailers Association has said it is disappointed to learn that HSBC will be closing  114 of its branches in 2023.

The association, which works with over 6,000 independent businesses of all sizes across the UK, said it was concerned that the major high street bank were taking the measures.

It was announced this week that they will be closing the branches in April, and around 100 people would be losing their posts, however would try to be redeployed.

But Bira has expressed concerns that this move will further dampen the footfall to the high street and lessen the support that independent shops would be getting.

Andrew Goodacre, CEO of BIRA said: "With this announcements from HSBC we see another example of large corporations deserting the high street and local communities. The excuse of on-line banking becoming dominant does not take into account the impact on people and businesses.

"Cash is still used in business and in the current Cost Of Living Crisis, we are seeing more cash being used by shoppers. Businesses therefore need banks to help them manage the cash and ensure the business meets the needs of customers.

"We also have concerns for people who do not use on-line banking. If banks are going to close down branches and leave the high street then we need to see a quicker roll out of the banking hubs so that vital services are retained. I could understand it better if these banks were losing money, but we know that is not the case," he added.

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