Page last updated at 16:41 GMT, Wednesday, 25 March 2009

Snooker firm Rileys cuts 200 jobs

Snooker table
Rileys had 159 clubs across the country

Snooker clubs group Rileys has gone into administration with the loss of 200 jobs and closure of 30 sites, due to a downturn in trade and large debts.

However, the administrators said the future of the other 129 clubs and 1,200 staff had been secured after the sale of the firm's remaining assets.

These have been bought by a new company called Valiant Sports, which includes some of Rileys' existing directors.

The clubs staying open will continue to use the Rileys name.

The administrators from accountancy group Ernst & Young said that while the firm's latest quarterly rent bill - due on Wednesday - did not cause the firm's problems, it had been a factor in the timing of the move into administration.

"The company had been experiencing tough trading difficulties," said joint administrator Simon Allport.

The Rileys clubs being closed include Blackburn, Bracknell, Burnley, Clapham, Debden, Dundee, Glasgow (Victoria Road), Hartlepool, Hounslow, Lancaster, Long Eaton and Luton (Club Snooker).

Also to shut are Luton (Leagrave Rd), Northampton (Derngate), Nuneaton, Oxford (Colours), Penicuik, Peterborough, Rainham, Rotherham (Kimberworth Rd), Rotherham (Doncaster Gate), Rugeley, St Albans, Scarborough, Stanford-Le-Hope, Stretford, Stoke (Fenton), Sutton Coldfield, Wakefield and Weston-super-Mare.

Rileys is based in Milton Keynes.



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