Southsea

I'm an old resident of Portsmouth, or rather Southsea, which is just outside the lines and where all the best people live now. "

Bob Strong's Holidays Adrift in the Channel John B. [Illustrator] Greene

The closure of Southsea comes a day after Chancellor of the Exchequer, George Osborne, kicked off the sale of Northern Rock PLC, which was taken over by the government following the near-collapse of the bank in September 2007 from funding problems.

Greek Uncertainty Lifts Treasurys Cynthia Lin 2011

The BOE said the Financial Services Authority has deemed Southsea as being unable to operate as a deposit-taker and that it was "reasonably unlikely" for Southsea to resolve its financial problems.

BOE Declares Small Bank Insolvent Vladimir Guevarra 2011

The closure of Southsea comes a day after Chancellor of the Exchequer, George Osborne, kicked off the sale of Northern Rock PLC, which was taken over by the government following the near-collapse of the bank in September 2007 from funding problems.

BOE Declares Small Bank Insolvent Vladimir Guevarra 2011

Southsea, based in Portsmouth and with just over 250 depositors and £7.4 million in deposits, saw its property investments sour during the financial crisis.

BOE Declares Small Bank Insolvent Vladimir Guevarra 2011

The BOE said the Financial Services Authority has deemed Southsea as being unable to operate as a deposit-taker and that it was "reasonably unlikely" for Southsea to resolve its financial problems.

Greek Uncertainty Lifts Treasurys Cynthia Lin 2011

The Bank of England said the failure of Southsea "follows a deterioration in its financial position as a result of management decisions and the firm's specific business model."

Greek Uncertainty Lifts Treasurys Cynthia Lin 2011

LONDON—The Bank of England on Thursday declared Southsea Mortgage and Investment Company Ltd., a small bank hit by the financial crisis, as insolvent.

BOE Declares Small Bank Insolvent Vladimir Guevarra 2011

Southsea, based in Portsmouth and with just over 250 depositors and £7.4 million in deposits, saw its property investments sour during the financial crisis.

Greek Uncertainty Lifts Treasurys Cynthia Lin 2011

The Bank of England said the failure of Southsea "follows a deterioration in its financial position as a result of management decisions and the firm's specific business model."

BOE Declares Small Bank Insolvent Vladimir Guevarra 2011