THE new chairman of Northern Rock has conceded that jobs may be lost as a sale of the troubled lender looks "increasingly likely".

Bryan Sanderson revealed that the bank is now almost £20m in debt to the Bank of England, a figure that could rise by another £5m by the time Government aid ends in February.

Mr Sanderson, who replaced Matt Ridley when he stood down last month, said all options for Northern Rock's future were being considered, which may impact on the company's workforce of about 6,000 in the region.

Trade union Unite said it was "utterly appalled" by Mr Sanderson's comments.

The union said his vagueness would result in further job insecurity.

Mr Sanderson said: "When you owe £20bn to the Bank of England, then all the options have to be looked at.

"I'm here to make sure the shareholders are looked after in the best way and we want to examine every option.

"The debt is not quite £20bn just yet, but it's getting there and it could be as much as £25bn by February.

"We don't know yet if there is an independent future for the bank. We have to wait and see.

"Was it avoidable? I just don't know. There does seem to have been a perfect storm.

"If a few little things had been different, this might never have happened."

The company said earlier this week it was in talks with several parties over a possible takeover - including a consortium led by Sir Richard Branson's Virgin Group, and US private equity firm JC Flowers - but said they were at a very early stage.

Mr Sanderson, a former managing director of BP, also said he could not give guarantees over the future of the current set-up of the bank - including its workforce or its charitable arm, The Northern Rock Foundation.

"If the company is sold, does it necessarily have to involve job losses?" he said.

"Well it's very hard to answer, because we don't know what any potential buyer will do with the bank."

"I think the answers to job losses depend on the offers. At the moment, we are just not filling vacancies, which reduces the workforce by 600 a year, and that is helpful.

"All I can reasonably say about staff security is we will do the best we can and try to keep them as informed as we can during negotiations."

The Foundation is another area that could be affected, he said.

"The Foundation is fantastic with an unparalleled track record in its department," he said.

"It has rights to do with its 15 per cent shareholder status, which will be honoured, but I can't say any more on its future at this stage.

"It is very hard to give any guarantees or predict what will happen."

However, Graham Goddard, Unite deputy general secretary, said: "The new chairman has yet to meet with any staff representatives of Northern Rock.

"We would urge him to think carefully before he makes further comments about the future of staff and to sit down and meet with the union."