CONFUSION surrounds a bid by Liverpool-based financial services group Royal Liver to save almost 90 jobs at a Leeds subsidiary.

As part of a group-wide review it warned last month that its financial advice firm Park Row was in danger of closure with the loss of 88 jobs.

Royal Liver has now revealed that a bid to transfer its Park Row advisers to Leeds-based 2plan Wealth Management had failed and exclusive talks between the two parties had ended.

It said it will hold a roadshow next week for Park Row staff to discuss their options.

However, 2plan Wealth Management expressed its disappointment and said the termination of talks had come as a surprise.

Chief executive Chris Smallwood said: “We have been in exclusive talks with them over the past few weeks and had always believed that both parties were working well together with the same level of integrity and honesty.

“Last night a conference call between both parties confirmed that an agreement had been reached which we were all happy with and indeed we were due to sign legal agreements at just after 1pm today.

“Sadly, however, we then saw press statements issued without our knowledge, saying that the deal had collapsed.”

He added: “We believe this may have happened following a board meeting held by Royal Liver this morning, but have not had any confirmation of this.”

Royal Liver declined to comment further.