A third major shareholder in crisis-hit lender Northern Rock today lent its backing to plans giving investors a bigger say over the future of the stricken firm.

The board of Northern Rock is considering the possibility of an “in-house” rescue for the stricken bank, it was reported today.

The chairman of crisis-hit Northern Rock today urged investors to reject proposals from the lender’s two largest shareholders, saying they could hinder a rescue of the stricken business.

Bosses of stricken bank Northern Rock were facing pressure today to arrange a potentially stormy shareholder meeting.

British Conservative party leader David Cameron warned today it would be a “monumental failure” if Northern Rock was nationalised as the Government came under fresh pressure to secure the stricken bank’s future.

Northern Rock’s biggest shareholder is today hoping for an improved offer for the lender after querying the value of the salvage bid led by Richard Branson’s Virgin Group.

A consortium led by Richard Branson’s Virgin Group is expected to be named today as preferred buyer for Northern Rock.

Northern Rock suitor JC Flowers today unveiled a heavyweight management line-up for the stricken mortgage lender as talks over a possible offer continue.

Northern Rock announced the departure of chairman Matt Ridley today and said the “time was right” to accept his resignation.

Sunderland have halted their desperate slide into the financial mire but will still end the season with debts in excess of £30m (€44m).

Sunderland today revealed they have an ongoing debt of £36m (€53m) and incurred losses of almost £21m (€31m) for the financial year just ended.

Crisis-hit Sunderland lost nearly £5m (€7.2m) in the six months ending January 31.