UK bingo firm Buzz Bingo has announced that they're closing at least a quarter of their bingo halls in the country, with more than 500 employees losing their jobs as a result.
The company will be closing 26 halls in the country, which will result in roughly 573 employees being made redundant. Buzz Bingo used to operate as Gala Bingo, and the company employees more than 3,400 people throughout the UK. The bingo operator has been suffering since the halls were foced to close in March due to Covid-19 restrictions in the UK, and it appears that a recovery may be either long-term, or not coming at all.
Commenting on the decision Buzz Bingo CEO Chris Matthews said, "The ongoing pandemic has had far-reaching consequences for the entire leisure and hospitality sector and an immediate and significant impact on our business.
"Following a thorough review of our options, the proposed CVA will restructure our retail portfolio to ensure we are well positioned for a return to growth, while adapting to the ongoing, challenging environment as we start to reopen the majority of our clubs.
"Our lenders are supporting our plans and our owners, Caledonia will be investing into the new structure to further strengthen our future business.
"The restructure will, very sadly, impact a number of our colleagues and my priority is to support all those affected and keep them fully informed as we continue with this process. I would like to thank every single one of our colleagues for their continued understanding and commitment over this period."
We'll follow the closures and keep readers informed as Buzz fights back from this hardship. The thoughts of the CL news team go out to those affected by the closures.