Rob Harding and Ian Wormleighton of Deloitte, the business advisory firm, have been appointed administrators of Milton Keynes based Rileys Sports Bars Limited (Rileys) – an operator of multi-leisure sports venues, specialising in snooker and pool as well as offering darts, bingo and screen sports. Twenty people in Milton Keynes have subsequently lost their jobs.
The administrator said Rileys will continue to trade while it looks for options to ‘secure the best outcome for the business’, which now has 44 remaining sites employing 400 people in the wake of these closures.
The chain was started in 1878 by Manchester entrepreneur Edward John Riley when he opened his first sports emporium in the city. By 1896 he had turned the business into a limited company and begun the production of billiards tables.
Rileys is headquartered in Milton Keynes and, prior to the administrators’ appointment, operated 59 venues across the country, employing 522 staff.
On appointment it has been necessary to close 15 sites. This has resulted in 104 redundancies at those sites, in addition to the 20 redundancies in Milton Keynes.
The sites include bars in Manchester, Cardiff, Coatbridge, Derby, Edinburgh, Exeter, Guildford, Hull, Luton, Peterborough, Plymouth, Rugby, Scunthorpe and Wigan.
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.”