High Court orders repudiation of five Ladbrokes leases under rescue plan

Shops to be closed are in Sligo, Cork and Dublin

The High Court has ordered the repudiation of leases on five Ladrokes Ireland shops in advance of finalisation of a survival scheme for the troubled bookmakers’ chain.

The shops are in John Street, Sligo; Lower Kilmacud Road, Stillorgan, Dublin, Middleton, Co Cork; Finglas Town Centre and Ballygall Road, also Finglas, both Dublin.

The lessors of the Finglas Town Centre, Middleton and Sligo shops had opposed the repudiation while there was no appearance on behalf of the lessors for the Stillorgan and Ballygall Road units.

Mr Justice Brian Cregan ruled he would grant the repudiation sought by Ladbrokes Ireland in all five cases.

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The rescue plan for Ladbrokes involves closing 60 out of its 196 shops in the Republic, most of which are on consent with the landlords. The closures involve the loss of 250 of 840 jobs.

The company's examiner, Kenneth Fennell, has until July 29th to finalise the survival plan before it comes back before the court for approval.

Ladbrokes Ireland's parent's rescue plan for the troubled business trumped alternatives presented by rival Boylesports and others.