The Journal Opinion: The end of the Northern Rock Foundation

The Journal's opinion column for Friday, September 26, in which we acknowledge that the work of the foundation could not long survive the Rock's crash

Scott Heppell/PA Wire Virgin Money took over Northern Rock following the 2007 banking crash
Virgin Money took over Northern Rock following the 2007 banking crash

It’s been amazing for 17 years – but now it looks like the curtain will come down on the Northern Rock Foundation.

In truth the writing first appeared on the wall seven years ago this month.

It was in September 2007 that queues appeared outside Northern Rock branches as the bank lurched into a terminal crisis.

It turned out that the best thing about Northern Rock was its foundation, and it had already funded it generously for 10 years before that day in 2007.

It was a rare partnership between business and community and one that, realistically, could not survive in the long run. Virgin Money did the decent thing by the foundation, but could not have been expected to pick up all the pieces.

Some good work will continue. But we can’t turn back time. However the foundation, when it goes, goes with our thanks.

Journalists

David Whetstone
Culture Editor
Graeme Whitfield
Business Editor
Mark Douglas
Newcastle United Editor
Stuart Rayner
Sports Writer