Fears for King's Lynn staff as betting firm William Hill announces store closure plan
Workers at a Lynn betting shop are facing an uncertain future today after their employer announced plans to close around 700 stores.
Around 4,500 jobs are at risk nationally under the plans announced by William Hill, which has a branch in the town's Vancouver Quarter, this morning.
The proposals will affect nearly a third of the company's 2,300 branches and 12,500 staff.
Bosses are blaming the move, which is the subject of a consultation process, on the government's decision to cut the maximum stake for fixed odds betting terminals from £100 to £2 earlier this year.
In a statement, the firm said: "Since then the company has seen a significant fall in gaming machine revenues."
No details of which stores are set to close have yet been released, although the company says the closures are likely to begin before the end of this year.
The statement added: "The group will look to apply voluntary redundancy and redeployment measures extensively."