The pool and snooker hall chain has gone into administration, resulting in an immediate closure of 15 stores and a loss of 124 jobs. The company was put up for sale two months ago by its owner, Greybull Capital, however a buyer could not be found. Now, another 400 jobs are at risk if administrators cannot secure a sale of the business. Joint administrators, Ian Wormleighton and Rob Harding, of Deloitte, will keep the remaining 44 bars open and the business will continue to trade as normal while they look at all possible options.
Joint administrator, Rob Harding, commented “Following our appointment it has been necessary for us to implement certain cuts immediately. We are now working to stabilise the business following our appointment whilst we consider our options for securing the best outcome for the Company’s creditors.” Sites that have been closed down: – Guildford – Manchester – Derby – Cardiff – Edinburgh – Hull – Peterborough (2) – Luton – Plymouth – Scunthorpe – Wigan – Coatbridge – Exeter – Rugby Rileys was bought out in a pre-pack administration deal by Greybull Capital two years ago.
We are not involved in the administration and questions should be directed to Deloitte who are handling the administration. If you are an employee of the business, please listen to the video below as it will tell you your rights as an employee of an insolvent business. There is a link at the end of the video to the Government website which expands further on what you need to know. T