Ladbrokes and Paddy Power buy insolvent Roar’s retail betting shops

The majority of ten betting shops owned by the now insolvent gambling chain Roar have been bought from the administrators for an undisclosed amount by the Ladbrokes and Paddy Power groups.
Five of ten Roar Betting outlets have been acquired by Paddy Power, from administrators Neil Bennett and Michael Healey of Leonard Curtis.
Another two have been sold to Ladbrokes, and one of Roar's former directors is taking on two of the shops, leaving a tenth shop to be shut down.
The deals will save 31 jobs out of 41.
Roar had GBP59 million of turnover for year end 31 December 2009, but losses in some of the shops saw the businesses enter administration.
"This has been an excellent outcome in terms of numbers of jobs saved," said Bennett.