A Massive Bank Will Now Close More Branches

A massive bank will now close more branches as it continues to trim its network in response to falling visits, sources report.

Barclays has announced that it will shutter 22 more bank branches.

The new cuts mean that Barclays is now in line to shut 90 branches this year and another six in 2025.

“Where there is no longer enough demand to support a branch, we maintain an in-person presence through our Barclays Local network, live in over 300 locations, based in libraries, town halls, mobile vans and our banking pods,” said a spokesperson.

“We also support access to cash with our cashback without purchase service, 24-hour deposit-taking ATMs and by working alongside the Post Office and Cash Access UK.”

Lloyds, NatWest, and TSB are among the other UK banks to take an axe to their branch networks over recent weeks, reports Finextra.

“In contrast, US giant JPMorgan Chase will open 500 new branches over the next three years as part of a multi-billion dollar investment in its network, while PNC is to invest $1 billion in refurbishing its existing branches and opening 100 new locations,” says the outlet.

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Also Read: A US Bank is Now Denying Customers Access to Money

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Market News Today - A Massive Bank Will Now Close More Branches.
Market News Today – A Massive Bank Will Now Close More Branches.

A massive chain now makes unexpected closures in two states while offering severance pay and job assistance to those affected.

PDQ will close its shops at eight outlets across North Carolina and South Carolina, reports The-Sun.

The chain, famed for its ‘finger-licking chicken’, will board up its windows at outlets in Lake Forest, Cary, Durham, and Raleigh, a company spokesperson confirmed.

However, PDQ’s stand inside PNC Arena in Raleigh will remain open.

Other affected locations include Hickory and Winston-Salem in North Carolina and Greenville and Columbia in South Carolina.

The chain’s site inside Charlotte Douglas International Airport will also keep its doors open, along with a restaurant in Concord and the brand’s flagship location in Cornelius.

PDQ has said it would offer severance pay and job assistance to all employees affected by the closures.

“This difficult decision comes after careful consideration and evaluation of market conditions,” the spokesperson said.

“PDQ’s executive team has visited with all of the restaurant teams over the last week and is offering severance to everyone affected, as well as providing assistance to help them find new jobs.”

Bob Basham and Nick Reader launched PDQ – or People Dedicated to Quality – in 2011 in Florida.

PDQ is headquartered in Tampa and has around 60 locations, predominantly in Florida.

PDQ isn’t the only major chain that is closing store doors.

Denny’s announced it has closed another restaurant only months after an initial closure in the same state at the end of 2023.

It was confirmed on Monday that the famed diner-style chain closed its location in Chubbuck, Idaho, near the southeastern portion of the state, over the weekend.

Several customers criticized the closure, with some even blaming inflation.

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Also Read: A Famous Restaurant Chain Now Closes 4 Locations in Florida

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Market News Today - A Massive Bank Will Now Close More Branches.
Market News Today – A Massive Bank Will Now Close More Branches.

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