Rank to close nine bingo halls in England and Wales
The gaming group said that it wanted to improve the quality of its clubs portfolio ahead of the ban, but added that it did not expect the closures to have a material effect on its 2007 profits.
The nine clubs facing closure are located in Fulham, Islington, Kingston-upon-Hull, Liverpool, Reading, Sheffield, Swansea, Welling and Wolverhampton. Rank owns the freehold on five of these, with four operating on a leasehold basis.
In a statement, the UK-based company said that the move would allow it to redeploy capital into assets with potential for higher growth and stronger returns, adding that the closures would take place following a period of consultation with the clubs current employees who will be offered other positions in the business ’where practicable’.
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