Nationwide wind-up under consideration
It has been confirmed that the winding up of Irish Nationwide is one of the options being considered in their new restructuring plan.
The building society yesterday published results showing losses of almost €2.5bn for last year - more than its total profits over its entire history.
The European Union requires a new plan for the future of the business to be submitted, after they received €2.7bn of taxpayers' money to stay afloat.
"The restructuring plan obliges us to look at a whole range of options," new chief executive Gerry McGinn said.
"That (winding up the institution) is one of them.
"Obviously what we will now do - because we need to create the restructuring plan by the end of June - is consider the cost involved in each of the options," McGinn said.
"That will be assessed as part of the exercise over the next two months."
