Hackett’s Bookmakers have closed their 18 nationwide shops and placed their business into liquidation.
The betting company operated three shops in Cork, including one in the Blackwater Shopping Centre in Fermoy. Nationwide 35 jobs have been lost as a result of the closure.
The company shrunk in recent years from its peak of 65 outlets and 160 staff, with the majority of these either closed or sold to betting giant Paddy Power. News that the final 18 shops were to close with immediate effect broke on Tuesday.
An agreement has been reached with Paddy Power to honour any outstanding bets from Hackett’s customers.
A statement by founder Cyril Hackett said the business had struggled in recent years, particularly due to the reduced role of retail betting in the overall betting market increased competition, and flat rate betting tax of 1% on turnover.
“On a very sad day for the Hackett family, the directors would like to thank their staff, suppliers and customers for many years of loyal service and business,” he added.
All 18 shops will be closed until further notice with Declan McDonald and Ken Tyrrell of PWC appointed as joint provisional liquidators.
