Castletown Commissioners say the closure of Barclays has been 'long anticipated'

Wednesday, 22 November 2023 14:48

By Emma Draper

Closure announcement comes after a review carried out by the bank

The Chair of Castletown Commissioners says the news of the Barclays closure has been 'long anticipated'.

It comes after an email confirming the branch would close in February next year 'following an extensive review' of the number of people who were using the branch.

Jamie Horton said in a statement he doesn't share 'pessimistic views' and has been speaking with central government departments to find ways to support businesses in town.

An ATM is being installed at the town hall, but it will mean the end of face-to-face services for customers.

Mr Horton says: "Given the recent history of bank branch closures in the town, my board have long anticipated this news and it does not come as a shock.

"We have been in dialogue with the senior management team at Barclays for an extended period and consequently, we have worked with them to provide continued access to the cash through the new ATM in the Town Hall, without blighting the future use of the Barclays building.

"Whilst it is a sad day, we also must be realistic that the number using the branch have dwindled and the branch itself was open for very limited hours. Over 5000 high street bank branches have closed across the British Isles since 2015 and this is not a trend that is unique to Castletown.

"Barclays have made it very clear to my board that the numbers using the branch were not sustainable and I have no reason to doubt them.

"As a local authority chairman I am often contacted by business owners in the town and I am not naïve enough to think that Barclays may be the last business closure given trading conditions. I am also aware that we regularly receive new business enquiries, but as a local authority we have very limited commercial properties in our portfolio.

"I don’t think it is any secret that Barclays building has long been identified as having the potential for multiple uses having historically served as a market hall. There is nothing to suggest that the building cannot serve the community in another form for many years to come.

"Indeed, we have had some really exciting approaches in recent days and we shall make sure that these are brought to the attention of Manx National Heritage.

"We do not share the pessimistic views of local social media commentators and have spoken to relevant central government departments about what we can do to support businesses that wish to relocate in Castletown, ultimately, the future of the building lies with MNH and we hope that they will be proactive in securing a suitable tenant or purchaser for this iconic building.”

Castletown Commissioners say the closure of Barclays has been 'long anticipated'

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