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Northern Rock
La Northern Rock (LSE: NRK) est une banque britannique basée à Regent Centre, Newcastle upon Tyne dans le nord de l'Angleterre. Anciennement connue sous le nom de la Northern Rock Building Society, la banque a été fondée en 1997 quand la société entra au London Stock Exchange, distribuant des actions à ses membres qui possédaient un compte sur livret et des biens hypothéqués. Northern Rock a rejoint la bourse en tant que banque mineure et on s'est attendu à ce qu'elle soit absorbée par un de ses plus grands rivaux, mais elle est restée indépendante. En 2000, la Northern Rock rejoignit le FTSE index.
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Northern Rock
Northern Rock, formerly the Northern Rock Building Society, was a British bank. Based at Regent Centre in Newcastle upon Tyne, United Kingdom, Northern Rock was originally a building society. It demutualised and became Northern Rock bank in 1997, when it floated on the London Stock Exchange with the ticker symbol NRK.
During the early 2000s the company borrowed substantially to fund mortgages, with the aim of ambitious growth, and also donated large amounts to charitable purposes and communities directly and through sponsorships. Due to the 2008 financial crisis, it was unable to produce income as expected from its loans, and was at risk of being unable to repay the amounts it had borrowed. The news that the bank had approached the government for support with its liquidity led within 24 hours to a public lack of confidence and concerns that savings were at risk, and the bank failed following a bank run as people rushed to withdraw their savings. It was the first British bank in 150 years to fail due to a bank run.
Unable to find a commercial buyer or secure the further government support needed, it was taken into public ownership in 2008, as an alternative to insolvency. By that point the government had extended liquidity support of tens of billions of pounds to Northern Rock. An inquiry concluded that the board had failed to properly protect the bank from the risks inherent in its strategy, or to restrain the executive directors where required, therefore although the bank had sufficient assets, it had become vulnerable.
The branch operations were eventually returned to private ownership when the branches and other retail operations were acquired by Virgin Group in 2012, being rebranded as Virgin Money the same year. The mortgage book of higher risk assets was renamed Northern Rock (Asset Management) and later "NRAM plc", and remained in public ownership until it was sold to Cerberus Capital Management in 2016.
As of May 2024 the Northern Rock Shareholder Action Group are continuing their campaign to obtain compensation for the shares that were taken over by the Government when the bank was nationalised during the 2008 financial crisis.
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Regent Centre
Regent Centre is a large business park and residential complex in Gosforth, Newcastle upon Tyne, England. The business park is home to a variety of companies, including banking group Virgin Money whose Head Office is located on the site. The centre has its own transport interchange with a station on the Tyne & Wear Metro and integrated bus station.
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West Gosforth
West Gosforth was an electoral ward in the north of Newcastle upon Tyne, Tyne and Wear, England. It was created in 2004 and abolished in 2018. The population of the ward is 9,681, increasing to 9,991 at the 2011 Census, 3.7% of the total population of Newcastle upon Tyne. Car ownership in the area is 78.1%, higher than the city average of 54.7%.
Other wards in Gosforth include Gosforth, Dene and South Gosforth, Fawdon and West Gosforth, and Parklands (which includes northern Gosforth including Melton Park and Brunton Park).
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Gosforth Junior High Academy
Gosforth Junior High Academy, formerly known as Gosforth West Middle School is a middle school in Gosforth, Newcastle upon Tyne, England. It is the Junior School of Gosforth Academy.
It is one of three middle schools where students usually transfer to Gosforth Academy. The school is in the West Gosforth electoral ward. It is one of Newcastle's "Special Educational Needs" centres for Visual Impairment, along with Regent Farm First School and Gosforth Academy.
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West Gosforth railway station
West Gosforth was a railway station on the Ponteland Railway, which ran between South Gosforth and Ponteland, with a sub-branch line to Darras Hall. The station served Gosforth in Newcastle upon Tyne. It was opened in 1905, closed to passengers in 1929, and to goods traffic in 1967.
The station was situated near to the junction of the Great North Road (B1318) and Hollywood Avenue. The station site is now occupied by the Regent Centre Interchange on the Tyne and Wear Metro.