Northern Rock

Northern Rock was a UK bank that specialized in offering mortgages. During the 2007-2008 financial crisis, it faced a sudden loss of confidence when it became apparent that many of its loans were risky. As a result, it experienced a bank run, with customers rushing to withdraw their savings. The bank struggled to meet these demands and eventually required government intervention to stabilize it. Northern Rock's failure highlighted vulnerabilities in banking practices and contributed to the broader financial crisis, leading to its nationalization and eventual sale to Virgin Money in 2012.