The cabinet at Warrington Borough Council has approved the sale of its stake in Redwood Bank. This decision, announced on 14 April 2026, marks a step in the authority’s plan to simplify its investment portfolio and address its financial challenges.
The council originally purchased approximately one-third of the shares in the bank’s parent company, Redwood Financial Partners Limited, for £30 million in January 2017. While the exact sale price is currently confidential, the council has confirmed the transaction will result in a substantial financial loss compared to the initial investment.
Cllr Denis Matthews, the cabinet member for finance, assets and investments, stated that the move is in the council’s best interests. He noted that the authority faces significant financial hurdles and must focus its resources on becoming a more sustainable organisation. The proceeds from the sale are earmarked to help repay the council’s debt.
This exit follows a broader review of the council’s financial strategy. In March 2026, government-appointed advisors reported that the council’s overall investment programme had resulted in net losses of approximately £109 million. The opposition Liberal Democrat group, who have historically opposed the investment, criticised the current exit as a fire sale, arguing that such high-risk financial ventures fell outside the core responsibilities of a local authority.
The sale is now subject to final regulatory approval.
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