Rival bookies may save over half of Celtic jobs
THERE ARE HOPES that more than half the jobs in the failed Celtic Bookmakers group will be saved as rival bookies move to buy viable parts of the business which went into receivership, owing €6 million to Allied Irish Bank.
The company owned by the radio presenter and former Fine Gael T.D., Ivan Yates, collapsed earlier this month, threatening the jobs of 237 people in over 40 bookie shops around the country and the head office in Blackstoops, Enniscorthy.
It is now believed that many of these jobs will be salvaged when parts of the business are sold off to competitors like Paddy Power and Boyle Sports.
The receiver Neil Hughes, from accountancy firm Hughes Blake, has received expressions of interest in the business which is almost certain to be sold in parts rather than as a single going concern.
Celtic Bookmakers has shops in Wexford town, New Ross and Gorey. Its bookie shop in Enniscorthy was sold before Christmas.
While the receiver's main job is to recoup the money owed to the bank, he is also trying to save as much of the failed group as possible.
Meanwhile, Mr. Yates returned to the 'Breakfast Show' on Newstalk radio station on Monday after a number of week's absence to deal with the crisis in the company he founded with his wife Deirdre over 20 years ago.