Swinton closures don’t tell full story, says Donaldson
The Atlanta CEO explains that branch closures should not be viewed in isolation.
Ardonagh revealed the closure of all remaining Swinton retail branches in a presentation to investors this week.
Swinton retail had a total of 59 branches when it was bought by Ardonagh for £165m in September 2018, down from 86 at the beginning of the year.
Following the purchase, this number then fell to 44 by Q1 2019, 20 by Q2 2019, and the last 11 branches were closed in July 2019.
Ian Donaldson, CEO at Atlanta Group, was keen to emphasise that branch closures were part of a strategy
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