Pool News - Rileys Sports Bars Ltd

Pool - Rileys Sports Bars Ltd Saved with New Investment

Pool News – Riley’s sports bars are one of the UK’s most popular sports club venues in the country. With over 70 establishments throughout the UK boasting a massive range of UK pool tables, American pool tables, darts and, of course, live sports.

The company has been struggling over the last few years and has now been bought from administration by private investors.

This means that more than 600 jobs will be saved, as well as 78 Riley clubs. This is excellent news for one of the oldest and most established pool and snooker brands. It ensures that the name Riley’s will remain on Britain’s high streets for the foreseeable future. 

Regrettably, 146 jobs and 25 Riley clubs will be lost. The majority of these are part-time staff, along with 44 full-time staff. These losses are a part of the administration process overseen by KPMG.

Rileys CEO Maurice Kelly released the following statement:

“We are desperately sorry that we could not take everyone with us but we’ve worked hard to rescue the majority of our clubs, saving 625 jobs. Continuing cash flow and trading difficulties on the High Street has forced this administration but the new company has been fortunate in securing significant investment from private sources to take the business forward and to secure one of the oldest names in British sport.”

He continued; “The double-dip recession has put pressure on all discretionary spending in the country and we have not been immune to those problems experienced by retailers’. ‘There have also been on-going issues with the smoking ban and changes to the Gambling Act which disadvantaged commercial snooker clubs.”

He concluded; “We are confident that we can now create a new offering to members and customers which will excite them and it is really encouraging to be able to attract new investment to take the company forward.”

It would have been a sad loss to cue sports fans all over the UK had Rileys stopped trading. Riley’s sports bars often provide the only accessible and affordable venues to play pool on high quality American pool tables and UK slate bed pool tables in the UK. Hopefully this will now continue for many years to come.