Betfred is reshaping its high street network with the closure of 132 betting shops from September. The move will affect more than 600 jobs as the company adapts to changing conditions in the UK betting sector.
Betfred Adjusts Its High Street Presence
UK bookmaker Betfred has announced plans to close 132 betting shops across the country from September. The closures represent just over a tenth of its UK estate, leaving the company with around 1,100 branches nationwide.
Founded in 1967 by brothers Fred and Peter Done, Betfred has grown into one of the country’s largest betting operators. The company said the decision forms part of its efforts to adapt to a changing retail environment while continuing to serve customers across its remaining locations.
Betfred’s network has long been a familiar presence on British high streets, with shops located in many towns and city centres.
Rising Costs Push Company To Review Its Network
Chief executive Jo Whittaker said the company had worked hard to protect its shops and employees, but rising costs had made keeping every location open increasingly difficult. She pointed to higher employer National Insurance contributions, wage increases, rising gambling taxes and wider economic uncertainty as factors behind the decision.
“These are well-run shops, staffed by dedicated colleagues, and it is incredibly hard to see any of them close,”She said, as reported by Oxford Mail. The company said its priority is now supporting employees affected by the closures and continuing operations across its remaining network.
More Than 600 Employees Affected By Closures
The planned closures will result in more than 600 job losses across the UK. Betfred has not yet released the full list of branches scheduled to shut. The company operates hundreds of locations across the country, including several shops in and around Oxford. It remains unclear whether any branches in Oxfordshire will be affected by the announcement.
Current locations in the area include sites on Cornmarket Street, Cowley Road, Barns Road, Templars Square and Headington.
A New Phase For One Of Britain’s Biggest Betting Brands
Betfred’s latest announcement reflects wider changes affecting high street businesses across the UK. Many retailers and service providers are reviewing their physical networks as operating costs rise and customer habits continue to evolve.
For Betfred, the closure programme marks a new phase for the company as it focuses on its remaining shops while continuing to develop its wider betting business. The bookmaker said it remains committed to its customers and local communities through its remaining branches across the country.
