Rileys saved but 30 pool halls close

ADMINISTRATORS handling the Rileys chain of pool and snooker halls have sold a large part of the business to its directors.

The deal has secured 1,200 jobs throught the country at 129 venues. But 30 halls will shut with the loss of 200 jobs, 25 of them in Blackburn, Burnley, Lancaster and Manchester.

A statement issued by administrators at the accountancy firm Ernst & Young said they had sold Rileys assets to Valiant Sports for an undisclosed sum.

Valiant is registered to the same office in Milton Keynes as Rileys and has some of the same directors. It will continue to trade the clubs as Rileys.
 
Joint Administrator, Simon Allport, said: “The companies have been experiencing tough trading difficulties due to a downturn in trade and a heavy debt burden and were unable to trade outside of administration.

“Fortunately we have been able to secure a deal, which means 129 sites will continue to trade and the brand and 1,200 jobs will be preserved.”