Wednesday 19th September 2007
Customers of Northern Rock have been told the building society remains "open for business".
In a new statement on the companys website, chief executive Adam Applegarth apologises for the "anxiety and inconvenience" caused by this weeks rush to withdraw funds from the organisation.
He adds his thanks to both staff and customers who have supported the financial institution in the past few days.
Those who have drained savings accounts - potentially incurring penalties for doing so at short notice - are invited to pay funds back in with the charges to be refunded if they invest "the same amount in the same type of account" before October 5th.
"I want to make it emphatically clear to all Northern Rock customers that we are open for business as usual," asserts Mr Applegarth.
But Jenny Challenor, mortgage strategist at financial planner Torquil Clark, argues that savers should have "followed the basics" and spread any funds over £35,000 among multiple accounts to ensure they did not lose out due to limitations in the Financial Services Compensation Scheme.
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