An insolvent chain of betting shops has been sold by administrators to two of
the gaming industry’s biggest brands.
Five of ten outlets of Roar Betting have been sold to Paddy Power, by
administrators Neil Bennett and Michael Healey of Leonard Curtis.
They sold another two to Ladbrokes. One of Roar’s former directors is taking
on two of the shops, while the last store will be closed.
The deals will save 31 jobs out of 41.
Roar had £59m of turnover for year end 31 December 2009, but losses in some
of the shops saw the businesses enter administration.
“This has been an excellent outcome in terms of numbers of jobs saved. We
wish all parties every success with their new businesses,” said Bennett.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children