Boylesports looking to cut rent bill

LOCAL bookmakers Boylesports are seeking substantial rent reductions across its 180 stores, according to a report in yesterday’s Sunday Business Post.

The company, which is controlled by businessman John Boyle, is agreeing to sign up to longer-term rental deals if its landlords agree to rent cuts.

Boylesports, whose headquarters are located at the Finnabair Industrial Estate on the Inner Relief Road, is examining its entire property portfolio and has a finance team prioritising the issue, as it seeks to rein in boom time property deals.

Boylesports have already secured a 70% reduction on a lease in Galway and 50% on a lease in Dublin.

A total of 165 of Boylesports’ 180 stores are rented. The company – which has stores in Dundalk, Ardee, Dunleer and Drogheda – recently announced revenues of €1 billion.

Source: Boylesports is seeking large rent reductions from landlords (Sunday Business Post)