Indie bingo operator facing uncertain future
One of the largest independent bingo operators in the UK is on the verge of calling in administrators, TheBusinessDesk.com understands.
Majestic Bingo is headquartered in Spalding and has a support office in Mansfield. It currently operates eight retail bingo venues across the UK, including the popular Roman Bank in Skegness and three clubs in Wales.
The firm also offers online gaming services and promotes live music events, “crazy bingo nights” and DJ nights via its Clubingo brand.
At the end of 2021, when its last available accounts were published, the company employed around 234 people.
Majestic Bingo endured a torrid pandemic, with uncertainty around reopening dates and a fire at its Spalding club in May 2021 severely impacting trading. Staff at the club in Lincolnshire were initially retained on full pay but were subsequently made redundant in August 2022.
The firm’s liabilities for the full year to 31 December 2021 exceeded its assets by £5,832,000, forcing it to sell its clubs in Castleford and Mexborough. It has since sold clubs in Mansfield, Barrow and Durham.
The company described its performance in December that year – traditionally a peak period for the bingo industry – as “very poor” and said “a material uncertainty” existed over its ability to continue as a going concern.
It has cited the cost-of-living crisis and soaring inflation and energy costs as key factors in its “mixed” post-pandemic performance.
Majestic Bingo Limited posted a notice of intention to appoint administrators on Tuesday (27 June) via Irwin Mitchell solicitors.
