Rileys Sports Bars goes into administration with loss of 124 jobs
Snooker and pool club chain Riley Sports Bars has gone into administration with the immediate closure of 15 sites and 124 staff made redundant.
Rob Harding and Ian Wormleighton of Deloitte, the business advisory firm, have today been appointed administrators of Rileys Sports Bars.
The administrators will continue to trade Rileys, which has a site in Broad Street, Wolverhampton, whilst they investigate options to secure the best outcome for all of the company's creditors. The Wolverhampton club is one of those continuing to operate.
Rileys, established in 1878, is headquartered in Milton Keynes and before the administrators' appointment operated 59 venues across the country, employing 522 staff.
Those made redundant include 104 at the 15 sites that have closed with a further 20 at the company's head office.
Mr Harding, a 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."
It is the third time Rileys has gone into administration in recent years.
In 2009 198 jobs went and in November 2012 25 clubs closed with the loss of 146 jobs as it was sold in a pre-pack administration.
The Cannock site in High Green has also since closed last year.
The chain, which was started by Irish entrepreneur E J Riley in Manchester, had 165 clubs at its peak.
