Byrom, Allen, Sedgwick and Place, also known as the Manchester Bank, was the first bank to be established in

Manchester Manchester () is a city in Greater Manchester, England. It had a population of 552,000 in 2021. It is bordered by the Cheshire Plain to the south, the Pennines to the north and east, and the neighbouring city of Salford to the west. The t ...

, England. It was founded on 2 December 1771 in Bank Street. The founders were

Edward Byrom Edward Byrom (13 June 1724 – 24 April 1773) was a prominent figure in 18th-century Manchester and served for a period as borough-reeve. The oldest surviving son of John Byrom John Byrom or John Byrom of Kersal or John Byrom of Manchester ...

William Allen William Allen may refer to: Politicians United States *William Allen (congressman) (1827–1881), United States Representative from Ohio *William Allen (governor) (1803–1879), U.S. Representative, Senator, and 31st Governor of Ohio *William ...

, Roger Sedgwick, and Edward Place. Place left the bank after a few months to take up other business interests. Byrom died in 1773, and Sedgwick in 1779, leaving Allen as the sole director. One of the bank's customers was the firm of

Livesey, Hargreaves and Company Livesey, Hargreaves and Company was an English business involved in the textile industry during the late 18th century. Business The company took a lead in the mechanisation of printing cloth using a process that had been developed by Thom ...

; Allen was related to the Livesey family by marriage, and made large loans to the company. Livesey, Hargreaves and Company were the largest

calico Calico (; in British usage since 1505) is a heavy plain-woven textile made from unbleached, and often not fully processed, cotton. It may also contain unseparated husk parts. The fabric is far coarser than muslin, but less coarse and thick than ...

printers in Lancashire, and was "one of the largest cotton manufacturing enterprises in the early stages of the Industrial Revolution". They ran factories Preston,

Lancashire Lancashire ( , ; abbreviated Lancs) is the name of a historic county, ceremonial county, and non-metropolitan county in North West England. The boundaries of these three areas differ significantly. The non-metropolitan county of Lancashi ...

, a mill at

Clitheroe Clitheroe () is a town and civil parish in the Borough of Ribble Valley, Lancashire, England; it is located north-west of Manchester. It is near the Forest of Bowland and is often used as a base for tourists visiting the area. In 2018, the Cl ...

, a coal mine, and premises in Manchester and London. However the firm went bankrupt in 1788, with debts totalling £1.5 million (equivalent to £ in ). Two days later the bank collapsed, Allen was also declared bankrupt. The business was acquired by

Heywood's Bank Heywood's Bank was a private banking firm established and run in Manchester by members of the Heywood family of Pendleton between 1788 and 1874. Family and banking history The bank was founded in Manchester by Benjamin Heywood and his two sons, ...

References

{{Reflist, 30em Banks established in 1771 Defunct companies based in Manchester Defunct banks of the United Kingdom 1771 establishments in England