I really don’t want to keep doing this to you, but I have to report on yet another independent bingo business going into administration.
This time, it is the Premier Bingo brand based up in Scotland that has called its final numbers, with all 3 of the halls it operates closing down.
It’s a bit of an odd one this, though, since the business is only a few years old and the owner… well, doesn’t have the best track record.
Hopefully, and I mean no offence to the owner, but hopefully this is about poor management and/or marketing rather than being a sign of the times for bingo.
After all, Scotland is one of the busiest regions for bingo in Britain, they love a bit of bingo up there.
So why did Premier Bingo end up going into administration?
What Happened to Premier Bingo?
The Premier Bingo brand opened its doors in 2021, once the worst of covid had passed us by and the world was starting to open up again.
Opening 3 bingo halls in one go shows that the man behind the brand, Peter Connor, had some capital to invest, but maybe it was all a little too much too soon?
The halls owned by Premier Bingo were in relatively small towns in the East of Scotland:
- Alloa
- Cowdenbeath
- Perth
It might have only been a little over 2 years ago that the bingo halls opened, but a lot changed in that time, with energy prices shooting through the roof, massive inflation, and a full on cost of living crisis leaving people with little extra money to spend.
Obviously, bingo is great fun, but it’s not as important as shelter, food, and heating, so just like most of leisure businesses, it took a hit.
Nevertheless, the Premier clubs were popular judging by the reviews and videos on their facebook pages, but selling sausage, chips and beans with a cup of tea for £2 isn’t going to make anybody any money (this was a real offer of theirs, macaroni and cheese was another option).
They had debts of around £140,000 at the start of 2022, so we can assume that amount has risen since seeing as they are closing, while their cash reserves of around £65,000 must have reduced.
The owner of the brand posted the following message:
“Due to circumstances outwith our control, we regret to announce that Premier Bingo will cease trading immediately. All clubs are now closed and the company is in administration.
“We will make a statement after this process has finished.”
Speaking of the owner, Peter Connor, he is a serial business owner in the pubs and leisure industry.
He owned Pete’s Pubs which ran from 2012-2019, GDP Leisure which only ran for a year between 2015 and 2016, The Jolly Pig Pub Company which opened in 2016 and closed just before covid hit in 2020 (so the closure was not caused by covid), and now Premier Bingo, which lasted a little over 2 years.
Who knows what the story is here, but to an outsider it looks like Peter knows how to throw a bingo party, but perhaps not how to make it profitable.
Is Bingo in a Decline or a Boom?
It’s a bit confusing isn’t it, because while I keep reporting on bingo halls closing following covid and the cost of living crisis, I am also reporting on fancy new bingo halls opening.
What is going on?
Perhaps it is just a case of bigger brands being better able to weather the ups and downs of the market.
Location probably plays its part too, since Alloa only has a population of about 20,000 and is also one of the most deprived places in Scotland; Cowdenbeath’s population is even less at around 14,000; and while Perth is larger at around 45,000 residents, it is also fairly deprived, and the club there obviously wasn’t doing enough business to subsidise the other two clubs.
Big brands tend to snap up locations in the biggest towns and cities where the most business is, so independents probably do struggle more unless they are very well established.
So while Premier Bingo clubs were popular with locals, there was perhaps not enough business to sustain the club opening every day and night, and one busy night a week, for example, probably didn’t bring in enough money to sustain the business.
I’m guessing here of course, but whatever the reason, it’s a sad day for Scotland.