JC Flowers eyes building society as Nationwide bows out

The move comes as the Nationwide calls time on any further deals with rival building societies after coming to the rescue of three of its smaller competitors during the financial crisis, according to The Independent. JC Flowers is preparing a lifeboat deal to help Kent Reliance Building Society that will be formally unveiled later this week. The American firm and Kent will each inject £50m into a joint venture that will house all the building society's loans and deposits in an attempt to shore up its weakened capital position, reports the Telegraph. Kent will retain a controlling 5...