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More than 300 jobs could go at Gala Coral
The Gala Coral Group is to cut up to 300 jobs from its bingo club operation, as well as 45 from its online bingo arm.
The group, owned by private equity companies Candover, Cinven and Permira, will cut 200 office jobs and may close five of its 153 clubs, which will lead to a further 100 cuts.
The five clubs that may close are in Hull St Stephens; Port Glasgow; Leven, Fife; Pitsea, Essex and Aldridge in Birmingham. The company closed its Crystal Palace site last week.
The company has debts of £2.5bn and is likely to be heavily hit by the recent Budget announcement to increase gaming taxes from 15 to 22 per cent, which will cost the bingo sector £20m annually.
Company chair Neil Goulden has stepped down as chair of BISL in order to focus his attention on the ailing company, and has already met with Treasury minister Sarah McCarthy-Fry in an attempt to reverse the government’s tax hike.
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