Labour Party leader Jeremy Corbyn will face a leadership contest after the collapse of talks meant resolve a crisis brought on by Britain's vote to leave the European Union.

Angela Eagle, the party's spokeswoman on business issues, will launch her challenge to Corbyn on Monday.

Lawmakers passed a no-confidence vote in Corbyn's leadership June 28, but Corbyn refused to resign. Senior figures within the party then launched talks with Corbyn's supporters in the unions to negotiate a dignified exit for Corbyn and thus avoiding a bruising contest that would risk splitting the opposition party.

But the talks failed when Corbyn insisted he would stay "come what may." Eagle then stepped forward.

The party issued a statement Saturday saying Corbyn would not "betray the hundreds of thousands of people who elected him."