Ladbrokes to close 60 sites
BRITISH bookmaker Ladbrokes yesterday announced 60 shops will close this year after profits shrank over 2014.
Chief executive Richard Glynn said: “The issues of shop closures is not a new one. Increased tax and regulation has poured more shops into the non-contributory bundle, and those are the ones which become eligible for closure. We’re working really carefully to make sure that we can minimise redundancies, but it’s inevitable that there will be some.”
The news comes after Ladbrokes, the UK’s second biggest bookmaker, announced a 13.5 per cent drop in gross profit, in its preliminary results for year ended 31 December, to £98m for the year.