Hospitality Group Action Claim: Hospitality businesses owed millions from TBLs working together

Clydesdale bank sign

New data shows that hundreds of affected hospitality and catering businesses across the UK qualify to join a major High Court claim against Clydesdale and Yorkshire Bank.

Today, All Square Finance Ltd (allSquare), a specialist provider of claims management and litigation support services, announced the final phase of its bookbuild for a major High Court case against Clydesdale Bank (including Yorkshire Bank) (now Virgin Money) and the National Australia Bank in relation to its selling of Tailored Business Loans (TBLs) and Fixed Rate Loans.

The announcement comes after new data was able to identify which business types and sectors are particularly affected from the thousands who took out these loans, as well as give an indication of the size of claim which those who join the action can expect to receive.

Analysis now shows that Clydesdale or Yorkshire Bank customers in the hospitality and catering sector are among those particularly affected, accounting for hundreds of eligible loans.

The largest eligible businesses are now estimated to be owed millions of pounds by the Bank, though average claim sizes are anticipated to be in the hundreds of thousands (with even the smallest loan sizes owed thousands of pounds).

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