BoyleSports acquires four Hacketts from liquidators
Published 13/07/2016 | 02:30
Irish bookmaker BoyleSports has bought four Hacketts outlets from High Court-appointed liquidators Ken Tyrell and Declan McDonald of PwC.
The four stores will be rebranded as BoyleSports and will be included in the company's €4m three-year renovation programme across its portfolio.
The outlets concerned are in Cashel in Tipperary, Callen in Kilkenny, Mountmellick in Laois and Rathkeale in Limerick. All four will be reopened immediately.
The deal brings BoyleSports' total number of outlets on the island of Ireland to 212.
BoyleSports head of retail Jenna Boyle said the company was "saddened" by the liquidation of Hacketts.
"At a retail level the Irish bookmaking sector is the most competitive in the world.
"We would like to welcome our new customers of these four stores to the BoyleSports estate. As well as having the widest range of betting opportunities and the most comfortable surroundings of any betting chain, our new customers can look forward to getting the most competitive prices available in the market."
Hacketts went into liquidation last month after 50 years in business.
The firm found it difficult to keep pace with its larger competitors as many punters quickly moved towards online betting.
All of the bookmakers' outlets had been closed as PwC was appointed as liquidators.
The company tried to spare itself liquidation by selling some of its stores to Paddy Power.
During its restructuring the number of stores fell to 18 from 35.
The firm employed 35 people and had an annual turnover of around €30m.