Nestlé eyeing a move from its Croydon HQ

Almost 1,000 jobs could vanish from Croydon town centre after its biggest private employer, Nestlé, admitted it is looking to move.

The food giant has been trying to relocate from its crumbling skyscraper in Park Lane for years, after a succession of large-scale redevelopment schemes in the town centre fell through.

Rising maintenance costs at St George's House, which has been the company's home since 1965, mean it has decided to investigate other options.

It is believed the company is close to signing a deal to move its headquarters to east London, although a Nestlé spokeswoman said there were no concrete plans.

Croydon borough council leader Mike Fisher said: "There's no secret at all that Nestlé have been seeking to secure their future in a new building either in Croydon or elsewhere."