Boylesports hoping to take over Ladbrokes

smr36623_[1]_BoylesportsDundalk-based bookmakers Boylesports is hoping to take over the troubled Ladbrokes group in Ireland.

According to a report in today’s Irish Times, Boylesports has challenged Ladbrokes Ireland’s restructuring in the High Court, arguing that the process is effectively designed to prevent a takeover of the business.

Ladbrokes Ireland is working its way through a rescue plan for the loss-making chain with a High Court-appointed examiner, Ken Fennell of Deloitte. It plans to close up to 60 of its 196 betting shops in the Republic and cut some 250 jobs.

Boylesports intends to launch a bid for the entire company. It says this will involve an eight-figure investment and result in fewer shop closures, the preservation of more jobs and a better deal for creditors, including landlords who face the loss of rent on their properties.

Boylesports says it has not been given sufficient access to the information it needs from Ladbrokes Ireland to formulate an offer. At the same time, it points out that one of the competing bids is the chain’s UK parent.

On that basis, Boylesports maintains that the objective of examinership is to ensure the company remains under the ownership of Ladbrokes plc.

Sharkey calls for sweeping changes at Louth County Council following delivery of report into housing purchases

Cllr Tomás Sharkey

Cllr Tomás Sharkey

Sinn Féin councillor Tomás Sharkey has called for sweeping changes to be made in Louth County Council’s housing section after receiving a report into an audit of house purchases by the local authority in 2010.

The report was called for late last year after it emerged that a senior executive engineer and a senior executive officer in the housing section sold houses which they owned to the council.

Both staff members have been on suspension since October while an investigation was ongoing.

Cllr Sharkey said in a statement that he believes that the 2007 Code of Conduct for Employees had been breached and painted an “ugly picture” of things at the local authority.

“Both houses in question are in my electoral areas of Blackrock and Knockbridge,” said Sharkey.

“This report gives us an ugly picture of Louth’s housing section. The County Manager has written the report because of calls by me to have the purchase of houses audited and investigated and this proves that my pursuit of the issue of senior housing staff being involved in selling their own houses to the council was correct.

“The audit by Deloitte raised the issues of employees negotiating on their own behalf with persons with whom they worked on a day-to-day basis and attending meetings at which their properties were being discussed. This is in breach of the 2007 Code of Conduct for Employees of local authorities. I have been raising my concerns about this type of practice for some time now.

“The report has been carefully worded to give a stinging criticism of how the housing section has been managed over the years. I want to thank the brave and careful work of ordinary staff who assisted the audit and subsequent inquiry.

“It is incredible to read that the results of house inspections undertaken by the Senior Executive Engineer were not documented in a formal report. That Senior Executive Engineer sold his own house in Tullagee, Knockbridge to the Council at a cost to the taxpayer of €142,562.50 and with an additional refurbishment cost of €62,662.03.

“Louth County Council’s solicitor wrote many times advising that structural surveys of purchased houses be carried out but they did not happen. Inspections by the Senior Executive Engineer were not formally documented. There was no record that the houses being bought satisfied a demand from our housing waiting list. In one instance the council’s solicitor was instructed to proceed with the purchase of a house before the Director’s Order was signed to buy it. There is no record as to how the council became aware of houses being available for purchase. Policies and procedures did not exist.

“The report from the Louth County Manager confirms the grave mistrust that the public holds of our housing section. I welcome the fact that there will now be a review of procedures into house allocations, maintenance requests, purchase of units, Rental Accomodation Scheme, Long Term Leasing and Housing Assistance Payments. There now needs to be a sweeping change in our council. Policies and procedures must be made and followed.

“This document was prepared by Ms Philomena Poole who will leave her post as County Manager after only 8 months. I want to thank her for helping prepare the ground for reform in Louth.”

Sharkey hits out at County Manager over lack of a report on housing acquisitions by council

County Manager Philomena Poole

County Manager Philomena Poole

Sinn Féin councillor Tomás Sharkey has accused Philomena Poole of making a “bad start” as the new Louth County Manager after a report into the council’s acquisition of houses wasn’t presented as promised at this morning’s monthly meeting for September.

Ms Poole, who took over as County Manager during the summer, commissioned Deloitte to carry out an audit of council house acquisitions from 2010 after a Dundalk Democrat article revealed that two senior members of the local authority’s housing section had overseen the sale of their own homes to the council.

A statement from the council last weekend promised that the County Manager “will report to the full council at it’s September meeting”. However, that failed to happen at this morning’s meeting, leading to Cllr Sharkey to hit out at Ms Poole on his Twitter account.

It is now likely that the report will not be ready, at best, until the October meeting.

Audit of council house acquisitions to be carried out in Louth

County Manager Philomena Poole

County Manager Philomena Poole

New Louth County Manager Philomena Poole has commissioned Deloitte to carry out an audit of council house acquisitions from 2010.

The decision comes in the wake of last week’s story in The Dundalk Democrat, which reported that two senior members of the local authority’s housing section had overseen the sale of their own homes to the council.

Louth County Council said in a statement: “There have been a number queries relating to the purchase of social housing units by Louth County Council.

“The County Manager, Ms. Philomena Poole directed last week that the Council’s internal auditor, Deloitte initiate an audit of the council’s 2010 Social Housing Acquisition Programme.

“Following completion of the report the County Manager will report to the full council at its September meeting.”

HMV won’t be reopening

 

HMV in the Marshes will remain closed

HMV in the Marshes will remain closed

There’s bad news for local music and movie fans with the HMV store in the Marshes Shopping Centre set to remain closed.

There had been hopes that the store would reopen when HMV bought out the franchise, particularly as Hilco’s chief executive Paul McGowan lives in Ardee having recently moved there from Belfast.

However, The Argus reports that receivers Deloitte have failed to find a buyer for the Irish chain of stores. That means 10 local works will now be made redundant.

Source: Dundalk HMV branch will not reopen (The Argus).