Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Leisure group Rank is to cut 200 jobs at Mecca Bingo clubs across the UK and 40 posts at its head office. The report of job losses came as Rank reported a 3% fall in underlying first-half profit, and says Scotland's smoking ban has hit trade at its 14 Mecca Bingo halls there.
First half pre-tax profits were £40.7 million ($77.5 million), against £41.9 million last year, but profits were up at its Hard Rock cafes. They say the job losses follow a strategic review and are not directly linked to the smoking ban.
The job losses will help to cut the wages bill, with head office jobs being shed as operations are moved from London to Maidenhead.
The savings come after Rank was hit by a 17% fall in profits at its 117 Mecca Bingo halls. Mr Burke said bingo attendance in Scotland was down as a result of the smoking ban, and warned of a similar impact in England and Wales when restrictions are introduced there.
'About half of our customers smoke compared with one in four of the population so on that basis you would expect a similar impact,' said Mr Burke.
The group, which also owns Grosvenor Casinos and internet bookmaker Blue Square, is now targeting non-smokers in hopes of luring them towards its bingo halls.
Eurofound (2006), Mecca Bingo, Internal restructuring in United Kingdom, factsheet number 63993, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/63993.
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