Paddy Power to shut 100 shops with 400 roles at risk
Paddy Power is conducting a review across the UK and Ireland, with 400 jobs potentially affected. The firm attributes these potential closures to increased tax burdens.
A spokesman for Flutter UK and Ireland, which owns Paddy Power, said: “We are incredibly proud of our high street estate, and it remains a key part of our business in communities across the UK and Ireland.
“Unfortunately, we have had to take the extremely difficult decision to conduct this review. “The high street trading environment has been challenging for a number of years given rising costs, fierce competition, economic uncertainty and the shift to online but we also face a material impact from the higher gambling taxes announced in last year’s UK budget.
“Our immediate priority at this time is to support those colleagues affected by this announcement.”
It is understood the Norwich and Great Yarmouth sites are not believed to be among those under review currently.
Last October, the bookmaker shut 57 betting shops, putting almost 250 workers at risk.
The closures were blamed on “increasing cost pressures and challenging market conditions” by the parent company Flutter, which also owns Betfair and Sky Bet.