Top Ten Bingo has announced that it is to close two more of its bingo clubs and sources suggest there are more clubs to follow.  For all those that have read our previous articles this is of no surprise.

Both staff and managers at the clubs in Spennymoor and Gateshead have been given 4 weeks notices of the companies intentions. The company is now obliged to hold consultation talks with those effected and to consider whether any jobs can be saved or transferred to other sites. Having merged with Walkers Bingo in 2005, Top Ten Bingo pursued an aggressive strategy in buying up numerous smaller bingo operators including Apollo Bingo. At its peak in 2006 the company operated approximately 43 bingo clubs in the UK. While the UK gaming industry has suffered as a result of the no smoking ban and changes in legislation, Top Ten clearly sticks out as the biggest loser in terms of the number of club closures. Other companies have had to close clubs but no where near to the scale of that of Top Ten and sure the financial institutions that supported both the purchases of Beacon Entertainments (£90m) and Buckingham Bingo (£100m) will both argue that their respective 50% losses are worse, however the fact remains that Top Ten has managed to close the doors on around half of the bingo clubs it operated just over 3 years ago. The effects on communities in terms of both jobs and entertainment is significant and much of this will be blamed on the actions of Top Ten bingo. The companies emphasis on short-term financial performance at the expense of the longer term benefits was not compatible with the types of clubs that is was purchasing and as a result it has left the company with significant problems. Recent statements from the company confirmed that it had been unable to meet its obligations to the bank on a number of occasions even after re-negotiating the terms of it's debts. Sources suggest to limit the impact going forwards the company intends to re-brand the sites under the Apollo name and try to distance itself from the Top Ten brand which clearly has little future in the UK bingo industry.

Sources inside the company suggest Top Ten is to close further clubs this year.