Celtic Bookmakers close 16 more shops

JOB losses at troubled bookie chain Celtic Bookmakers have reached 62, following last night’s announcement that another 16 shops have closed.

The chain, owned by former government minister Ivan Yates, went into receivership earlier this month and two shops were initially closed with the loss of six jobs.

However, receiver Neil Hughes of Hughes Blake said last night that it was necessary to announce further closures in order to try and maintain the viability of the remaining 29 shops in the chain.

“It is with great regret that we have announced the closure of 16 shops with the loss of 56 jobs,” Mr Hughes said.

He added, however, that, in light of offers received for the remaining outlets, “I am now confident that it will be possible to safeguard the vast majority of the remaining jobs”.

A statement issued on behalf of Celtic Bookmakers said all employees will receive their full statutory entitlements.

Twenty nine shops remain open around the country, continuing to trade as normal.

All affected shops will close from today, but will reopen next week for one day to settle all bets. Any customer unable to make it into a shop should contact the office of the receiver, Hughes Blake, directly on 01 669 9999 to organise settlement.

Celtic Bookmakers went into receivership in the first week of January with €6m in debts and Mr Yates personally owing more than €5m. Mr Yates has said that everything is up for grabs, including his €50,000-a-year ministerial pension and his estimated €100,000-a-year salary from radio station Newstalk.