In a Trading Update in January
William Hill moms and dad company Evoke is set to close around 200 betting stores from May onwards, blaming the tax increases announced in the budget as one of the primary elements behind the decision.
There has actually been speculation since last autumn that the business would seek to close a a great deal of its 1,300 betting shops, and personnel were informed of Evoke's choice on Tuesday morning.
Evoke, which also includes the 888 and Mr Green brand names, is in the middle of a tactical evaluation following the budget last November, which spared betting shops from tax boosts but which hit online gaming operators with a near doubling of remote gaming responsibility to 40 per cent.
Comment: William Hill wagering shop closures a consequence of the difficult situation dealing with moms and dad business Evoke
Immediately after the budget plan, Evoke president Per Widerstrom said the business would implement mitigation plans which would include "a significant decrease in investment into the UK, and, extremely sadly, the likely need for jobs to be cut up and down the country".
In a trading upgrade in January, Widerstrom stated those plans included "the closure of retailers that are no longer sustainable".
A representative for Evoke told the Racing Post: "Following an extensive review and additional to increased cost pressures on the controlled sector, consisting of substantial tax increases revealed by the federal government in last year's fall budget plan, from May we are closing a number of shops that are no longer sustainable. We are providing our complete support to our retail colleagues who are affected by these closures.
"These decisions are never taken gently, nevertheless in the face of rising expense pressures we need to do something about it to guarantee we can continue to purchase our core retail estate, with the ideal stores, in the best locations.
William Hill moms and dad company Evoke is set to close around 200 betting stores from May onwards, blaming the tax increases announced in the budget as one of the primary elements behind the decision.
There has actually been speculation since last autumn that the business would seek to close a a great deal of its 1,300 betting shops, and personnel were informed of Evoke's choice on Tuesday morning.
Evoke, which also includes the 888 and Mr Green brand names, is in the middle of a tactical evaluation following the budget last November, which spared betting shops from tax boosts but which hit online gaming operators with a near doubling of remote gaming responsibility to 40 per cent.
Comment: William Hill wagering shop closures a consequence of the difficult situation dealing with moms and dad business Evoke
Immediately after the budget plan, Evoke president Per Widerstrom said the business would implement mitigation plans which would include "a significant decrease in investment into the UK, and, extremely sadly, the likely need for jobs to be cut up and down the country".
In a trading upgrade in January, Widerstrom stated those plans included "the closure of retailers that are no longer sustainable".
A representative for Evoke told the Racing Post: "Following an extensive review and additional to increased cost pressures on the controlled sector, consisting of substantial tax increases revealed by the federal government in last year's fall budget plan, from May we are closing a number of shops that are no longer sustainable. We are providing our complete support to our retail colleagues who are affected by these closures.
"These decisions are never taken gently, nevertheless in the face of rising expense pressures we need to do something about it to guarantee we can continue to purchase our core retail estate, with the ideal stores, in the best locations.