Firstplus shuts up shop


Firstplus shuts up shop
Barclaycard-owned lender Firstplus is to close to new business.

The firm – the UK's largest provider of secured loans – came to the fore with its adverts fronted by Carol Vorderman, but has now become the latest victim of the credit crunch with 300 job cuts in its Cardiff offices.

Some 130 staff will remain to cover existing customers.

The firm stated the decision would have no impact on the current loans of Firstplus’ 128,000 customers.

Neil Radley, managing director of Firstplus, said: “In the past year we have tried a whole range of activities to develop our business but the market demand simply isn’t strong enough.

"We recognise this is a difficult time for our people and will be providing all those affected with support and assistance.”

There are now just seven major players in the secured loan market – compared with 18 last year.

Graham Goddard, deputy general secretary of union Unite, stated he was "incensed" by the job losses.

"Whilst the union understand that the market conditions mean that the First Plus product is no-longer viable, we whole heartedly condemn the decision to run down the Cardiff site," he said.

“Unite are arguing that Barclays should replace the 300 jobs lost with work from other parts of the bank."

Bookmark with:
Bookmark with: Digg Digg Bookmark with: Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
HR / Recruitment
Health / Beauty
Hotel / Catering / Restaurants
IT / Internet
Insurance / Pensions
International / Overseas
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Transport / Logistics
Travel / Tourism / Leisure