A WELL-known betting company has cited new gambling regulations as the reason for the forthcoming closure of its Oswestry store.

William Hill is set to close its shop in Church Street as part of a company-wide move to shut down 700 stores.

The decision comes after the government reduced the maximum stake on Fixed Odds Betting Terminals (FOBTs) to £2 earlier this year.

A spokesman for William Hill 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 April 1 2019. Unfortunately our shop is now uneconomic and will close as a result of this.

"We are utilising redeployment and voluntary redundancy where possible and will provide full support to anyone impacted by redundancy.”