Deadline for RBS’S GRG complaint submissions

A deadline has been set for small businesses to lodge complaints over the way they were treated by Royal Bank of Scotland’s controversial Global Restructuring Group (GRG).

The lender announced that the GRG complaints process would close to new claims on 22 October, nearly two years after its launch.

It has so far offered a total of £125 million to victims of GRG, the now defunct turnaround unit that has been accused of pushing firms towards failure in the hope of picking up assets on the cheap.

Thebanksaiditisnowreceiving around six complaints a week, having declined from a peak of about 35 per week in December 2016.

Federation of Small Businesses national chairman Mike Cherry said: “From the outset, the GRG redress process has moved at a snail’s pace. A decade on from many of these cases arising, we still have a situation where a third of claims are unresolved.”