Iconic High Street Shop Announces Closure of 57 Stores
Paddy Power has announced the closure of 57 stores across the UK and Ireland, affecting nearly 250 jobs. This decision is a result of a comprehensive review amid ongoing cost pressures and challenging market conditions.
Details of the Store Closures
The closures will see 29 Paddy Power locations shuttered in the UK, including one in Northern Ireland. Additionally, 28 stores in the Republic of Ireland will be closed.
- Total Stores Closing: 57
- Stores in the UK: 29
- Stores in Northern Ireland: 1
- Stores in the Republic of Ireland: 28
- Jobs at Risk: Nearly 250
- UK Jobs Affected: 128
- Ireland Jobs Affected: 119
Company Statements
A spokesperson for Flutter UK and Ireland stated that affected staff would be offered redeployment opportunities, although some redundancies are inevitable. They emphasized the commitment to consulting with employees during this transition.
Industry Response and Future Outlook
This announcement comes amid speculation regarding potential increases in gambling taxes, but Flutter clarified that their decision was motivated by market conditions, not tax changes. The firm maintains that their high street presence is essential for customer engagement and will continue to invest in and innovate their offerings.
In an immediate response, BOYLE Sports, Ireland’s largest independent bookmaker, has offered guaranteed job interviews for all retail staff impacted by the closures. Currently, BOYLE Sports has over 390 locations across the UK and Ireland, actively recruiting in areas such as shop management and customer service.
Conclusion
The closure of these stores marks a significant shift for Paddy Power, highlighting the evolving challenges faced by high street retailers in the gambling sector. Adaptation to customer trends and pressures remains critical for the future viability of these establishments.
