Rock's losses could undermine its sale

Northern Rock is set to unveil losses of more than £200 million that could undermine the planned sale of the bank, it has been reported.

Its 2010 figures are due in March, more than three years after it was nationalised by the government after falling victim to the credit crunch.

The sale of Northern Rock Plc - the savings and mortgage operation formed when the bank was split in two last year - moved closer earlier this month when the government hired advisers to look at strategic options. But further losses would make a quick sale less likely, analysts said.