Update: Mablethorpe’s last bank will close down this summer

Residents are concerned that Mablethorpe will soon become a ‘ghost town’ after the town’s last remaining bank announced it will close this summer.

Barclays Bank

Barclays Bank announced today (Friday) that its branch in High Street will close on Tuesday July 2 following a decline in usage by customers.

Customers have been advised to use branches in neighbouring towns - Louth, Skegness and Horncastle - or to use the Post Office counter at Co-op in Seacroft Road.

Barclays stated that the main reasons behind the closure of the Mablethorpe branch are:

• The number of transactions has gone down in the previous 24 months, and additionally 71% of our branch customers also use other ways to do their banking such as online and by telephone.

• Customers using other ways to do their banking has increased by 22% since 2012.

• In the past 12 months, 43% of this branch’s customers have been using neighbouring branches.

• We’ve identified that only 158 customers use this branch exclusively for their banking.

Disappointed residents expressed their views on social media, with many raising concerns over the lack of facilities in the town.

One resident said: “Words fail me. Our local Barclays Bank is closing - that’s the last bank to close in Mablethorpe, and we have been banking with them for over 45 years. 
“I am so annoyed. Makes me wonder why I came here to retire - all that will be left of Mablethorpe is the beach and charity shops

Another resident said: “Good Lord, I think we are going to end up with a list of what is actually open in Mablethorpe.

“There won’t be much on the list if we don’t include Greasy Spoons, Second Hand Shops and Bookies.”

And one customer added: “We changed to them when Lloyd Banks closed. Ridiculous - we’ll soon have a ghost town here.”

Mayor of Mablethorpe and Sutton on Sea, Councillor Steve Palmer, said: “Unfortunately this does not surprise me, but the news of Barclays closing the last bank in Mablethorpe and Sutton area is another blow to the community.

“Cash businesses, holiday-makers as well as our residents will be inconvenienced.

“It is just not good enough to just leave a town with poor transport infrastructure without a bank”.

For the full list of Barclays Bank closures around the country, click here.