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A group of Spanish investors have expressed interest in buying troubled British bank Northern Rock, a report has claimed.

Spanish daily newspaper El Mundo claims that the group of investors, reportedly headed by Spanish entrepreneur Jose Maria Ruiz-Mateos, has written to Northern Rock's chief executive to declare its interest in the lender.

The letter to Northern Rock boss Adam Applegarth stresses that Mr Ruiz-Mateos would be "interested in acquiring a package of shares in Northern Rock large enough to give him direction of the bank", the paper reports.

Northern Rock has not commented on the claims, which come amid growing uncertainty about the bank's future.

Shares in the troubled lender have lost more than half their value since the Newcastle-based company revealed on September 14th that it had asked the Bank of England to loan it emergency cash in the wake of an ongoing credit squeeze.

Northern Rock stock closed down a further 11.5 per cent at 172p yesterday, with shares in the bank having slumped following weekend reports that the lender may struggle to find a buyer in the wake of its recent problems.

Thousands of savers withdrew their cash from Northern Rock earlier this month, after it was forced to turn to the Bank as a lender of last resort due to liquidity problems experienced in the wake of the global credit crunch.

In a letter sent to parliamentarians late yesterday, Northern Rock chairman Matt Ridley insisted that the bank remained "profitable and sound", but its future as an independent company is considered to be untenable after the damaging run on the bank.

Reports today suggest that investment bank Goldman Sachs has now been appointed by the government to advise the Treasury on future options for Northern Rock, including a possible sale or break-up of the business.

Goldman Sachs is also reported to be advising the Treasury over the mechanics of its guarantee to safeguard existing deposits at Northern Rock – a measure announced by chancellor Alistair Darling last week in order to halt the run on the bank.

Responding to the reports a Treasury spokesman said that the department did not comment on, or disclose, guidance provided by external advisers.

Meanwhile, Northern Rock has been slammed for failing to inform its investors of its financial difficulties in the month before it turned to the Bank of England for emergency funds.

The UK Shareholders Association (UKSA), which represents the interests of private shareholders, claims that many Northern Rock investors "were persuaded to invest in shares in the company in recent months based on the apparent strength of the business, when in reality the company was in great financial difficulty".

According to reports the complaint could result in a class action legal suit against Northern Rock and its directors.