Paddy Power announces closure of 57 betting shops across UK and Ireland
In a significant move, Paddy Power has announced the closure of 57 betting shops across the UK and the Republic of Ireland. This decision follows a thorough review of its high street estate.
Details of the Closures
A breakdown of the closures reveals that:
- 29 shops will shut down in the UK, including one in Northern Ireland.
- 28 shops will close in the Republic of Ireland.
Impact on Employees
The closures will affect 247 employees. Of these, 128 employees are based in the UK, while 119 are in the Republic of Ireland. Paddy Power has confirmed that they are committed to offering redeployment opportunities wherever possible.
A spokesperson for Flutter UKI stated that, while there will be job losses, the company aims to provide support to affected staff during this transition. They are consulting closely with employees regarding these changes.
Reasons Behind the Decision
Paddy Power attributed the closures to increasing cost pressures and difficult market conditions. The spokesperson emphasized that the company continuously assesses its high street presence. They acknowledged its importance as part of their overall service to customers.
Despite these closures, Paddy Power aims to innovate and invest in other areas to adapt to evolving customer trends and needs.
