TRADERS in Much Wenlock are up in arms over a planned local bank closure which they claim is “another nail in the coffin of small rural towns”.
The loss of the HSBC branch has also been branded a “vote of no confidence in the town” by local MP Philip Dunne. He plans to approach the head of the Post Office, to see if alternative banking arrangements can be made.
Members of the town’s Chamber of Trade met last Friday with the MP, town Mayor Councillor Tim Pinches, town councillor David Turner and Peter Griffiths of Sustainable Wenlock. The matter was also due to be discussed at last night’s town council meeting.
The HSBC branch is set to close on June 18 after running at a loss. Traders fear that businesses will not be able to pay cheques in and residents will decide to shop elsewhere.
Mr Dunne said he would write to HSBC, asking them to reconsider their decision “given the anticipated increase in trade in the town in the run up to the London 2012 Olympics”.
He was also writing to the Post Office MD, Alan Cook, to encourage them to offer a deposit banking service to traders.
Recession
“I’m not hopeful that HSBC will change their mind. I think it’s an unfortunate decision because Much Wenlock has no empty shops and it is surviving in the recession reasonably well. Unfortunately this bank has given us a vote of no confidence in the town,” he said.
Councillor David Turner said he thought it was bad news for both residents and businesses. He said: “There has been a lack of consultation and we’ll be left with only Barclays. HSBC was open five days a week and Barclays opens four days a week and I understand that with Barclays there’s now a three week waiting list to get a meeting with them.”
Much Wenlock Chamber of Trade joint secretary Liz Challinor said that everybody at last Friday’s meeting “had the feeling that it is a done deal”.
And Chamber of Trade joint secretary Gail Hudson said: “ I am a customer of the HSBC and I don’t relish the thought of jumping into my car for an eight-mile drive to Bridgnorth.”
Spokesman for HSBC, Mark Hemingway, said the decision to close the branch was very hard but the bank was under-used. He added that more people were deciding to bank where they worked.