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05/01/2011
Celtic Bookmakers' Receivership 'Very Bleak'
The news of Celtic Bookmakers moving into receivership with the loss of 237 jobs has been described as "very bleak".
The fate of the company, which operates 47 betting shops in Ireland, was announced yesterday and described as "symptomatic of immense pressures on retail sector" by industry group Retail Excellence Ireland.
Fine Gael's spokesperson on Enterprise, Trade and Employment, Willie Penrose, said the announcement of the appointment of a receiver to the company was "very bleak news indeed", and a reflection on the general problems facing the broad retail sector and the particular problems that have been experienced by High Street bookies.
"The ongoing problems of the retail sector have been intensified by the bleak pre-Christmas weather and it is unlikely that Celtic will be the only casualty," he said.
Mr Penrose added that Fianna Fail had refused to take any action to facilitate downward rent reviews for existing leases as high street bookies struggled against those operating on line.
Meanwhile, also commenting on the announcement and the difficulties high street bookmakers faced, David Fitzsimons, Chief Executive of industry group Retail Excellence Ireland said that while there had been an alleviation rents, long term lease holders remained "crippled" by former boom time rents and "exploitative landlords".
He said the announcement was deeply unfortunate and symptomatic of the immense pressures which exist on the retail sector.
“While some landlords have worked with their tenants over the last 12 months to agree more realistic rent charges, there is a cohort of landlords, particularly in larger urban areas, who stubbornly refuse to enter any discussions on the prospect of rent reductions," he added.
(DW)
The fate of the company, which operates 47 betting shops in Ireland, was announced yesterday and described as "symptomatic of immense pressures on retail sector" by industry group Retail Excellence Ireland.
Fine Gael's spokesperson on Enterprise, Trade and Employment, Willie Penrose, said the announcement of the appointment of a receiver to the company was "very bleak news indeed", and a reflection on the general problems facing the broad retail sector and the particular problems that have been experienced by High Street bookies.
"The ongoing problems of the retail sector have been intensified by the bleak pre-Christmas weather and it is unlikely that Celtic will be the only casualty," he said.
Mr Penrose added that Fianna Fail had refused to take any action to facilitate downward rent reviews for existing leases as high street bookies struggled against those operating on line.
Meanwhile, also commenting on the announcement and the difficulties high street bookmakers faced, David Fitzsimons, Chief Executive of industry group Retail Excellence Ireland said that while there had been an alleviation rents, long term lease holders remained "crippled" by former boom time rents and "exploitative landlords".
He said the announcement was deeply unfortunate and symptomatic of the immense pressures which exist on the retail sector.
“While some landlords have worked with their tenants over the last 12 months to agree more realistic rent charges, there is a cohort of landlords, particularly in larger urban areas, who stubbornly refuse to enter any discussions on the prospect of rent reductions," he added.
(DW)
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Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.
