Biggest Bingo Company Bucky Bingo Faces ClosureAdded 2010-09-30 16:31:52
The future of one of the norths biggest bingo chains is in serious doubt. According to latest reports "Buckingham Bingo" who has halls all around the north of the uk is proberly going up for sale in the nearest future. In 2008 a massive debt was settled with barclays bank in exchange for a controlling stake in the business (bit like dragons den really!) Buckinging Bingos ownerd Alchemy Partners who also own Bucky Bingo are now thinking about all sorts of options and have even gone to some finance specialists to see how much they can get for the company. Alchemy Partners only bought the bingo business in 2006, for a hefty £90 mill! now its thought its only worth a small chunk of that, making them seriously out of pocket! There has been many factors leading up to this including the recent gross profit tax, replacing bingo duty. And due to a hard hitting recession many folks just havent been able to afford there favorite game, online or not.
Its really sad that 350 workers across 11 sites will potentially be losing there job, and the online site closed down. Bingo is a joyous game with amazing prizes, its a shame another company bringing us this joy is going down the financial pan too :(