Betting shop closes down in new blow to Ipswich town centre
PUBLISHED: 14:27 07 November 2019 | UPDATED: 14:29 07 November 2019
A national chain has closed its betting shop in Ipswich town centre, in the latest blow to the high street.
The William Hill shop in Upper Brook Street has shut down, following an announcement earlier this year that the betting giant was due to axe 700 shops nationally.
Their store in Lowestoft also recently announced that it was closing down, as part of the swathe of closures.
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The Ipswich shop's closure comes after William Hill saw a £721.9million pre-tax loss in 2018, down from a profit of £146.5m the previous year.
A spokesman for the company blamed the closures on the fact that the Government passed a law limiting the maximum stake on gaming products to £2 down from £100.
The spokesman said: "In July, William Hill announced that we had entered into a consultation process with retail colleagues over plans to close around 700 licensed betting offices.
"This follows the Government's decision to reduce the maximum stake on B2 gaming products to £2 on 1 April 2019. We are utilising redeployment and voluntary redundancy where possible and will provide full support to anyone impacted by redundancy."