Rob Harding and Ian Wormleighton of Deloitte, the business advisory firm, have been appointed administrators of Rileys Sports Bars Limited (“Rileys” or the “Company”), the operator of multi-leisure sports venues, specialising in snooker and pool as well as offering darts, bingo and screen sports. The administrators will continue to trade Rileys whilst they investigate options to secure the best outcome for all of the Company’s creditors.
Established in 1878, Rileys is headquartered in Milton Keynes and, prior to the administrators’ appointment, operated 59 venues across the country, employing 522 staff.
15 sites closed
On appointment it has been necessary to close 15 sites. Unfortunately this has resulted in 104 redundancies at those sites, with a further 20 at the Company’s head office.
Commenting on the appointment, Rob Harding, Deloitte Partner and Joint Administrator, said: “Following our appointment it has been necessary for us to implement certain cuts immediately. We are now working to stabilise the business following our appointment whilst we consider our options for securing the best outcome for the Company’s creditors. The remaining sites continue to trade as normal and we appreciate the co-operation and support of the Company’s employees, landlords, customers and other key stakeholders.”