Hundreds of jobs on the line at Irish Ladbrokes stores

Letterkenny shopfrontHundreds of jobs are on the line at the Irish division of betting giant Ladbrokes after it suffered losses of €5m last year.

The company has sought court protection to try to turn around its loss-making venture and secured the appointment of an interim examiner after several years of declining profits.

Ladbrokes said lay-offs are expected at all levels of its operation in the Republic of Ireland where it has 840 employees and 196 betting shops.

The examinership process, confirmed in the High Court, will guarantee business as usual while a schedule is put in place with creditors over the next 100 days.

Ladbrokes said the number of job cuts will depend on the outcome of the estate restructuring and that its digital and telephone businesses are not affected by the examinership.

There are two Ladbrokes shops in Co Donegal in Letterkenny and Ballybofey.