London Scottish Bank mulls selling debt collection unit -paper

LONDON, Oct 26 (Reuters) - Britain's London Scottish Bank Plc LSB.L is considering selling its debt collection division and closing its lending and other businesses after failing to find a buyer for the whole thing, the Sunday Express reported.

The company's adviser NM Rothschild has drawn up plans to sell its profitable debt collection division Robinson Way and wind down the rest, the newspaper said.

But the company had not yet completely abandoned hope of finding a buyer for the whole business, the newspaper said.

The company, which lent to customers with poor credit histories, notched up losses of 7.4 million pounds ($11.5 million) in the six months to end-April.

London Scottish Bank was not available for comment.

(Reporting by Paul Sandle; Editing by Phil Berlowitz)