2010 has not been a good year for top boss as of Gala Coral, Neil Goulden as reported by the Telegraph. The year has taken its toll with a massive 50 week restructure, a huge 10 million pound personal loss and to top it all off the breakdown of a 28 year marriage.

The company has reported a debit of 700 million pounds. Private equity companies, Candover, Cinven and Permira found themselves also wiped out but the long and extensive company restructure with Permira alone losing a staggering £370m.

During a standoff with shareholders earlier in the year, it had been unclear as to whether the company could weather the storm but Mr Goulden set about saving the business that he has put some much work in to making successful. The company got lucky when hedge funds spotted a business opportunity which luckily for Gala got their shares moving on the up.

To top it all off for Goulden, the stress and strain of saving the business cost him £10 million of his own money as well as his 28 year marriage to his wife.

Neil Goulden said “It’s been a year from Hell; I’m going to write a book about it. There were so many stakeholders and there was so much at risk. Eighteen thousand employees. So it was a huge burden. It cost me my marriage as well, so there you go. I separated from my wife in the middle of it. I think she'd had enough. Really tough."

Goulden now has his eyes firmly fixed on the future and looking to see the business through these tough times. He aims to win back the 1.5 million lost bingo customers with an improved value strategy. The company will also start hunting down acquisitions in the betting world and has expressed an interest in Tote. Finally Goulden plans to push for more regulatory clarity in the casino market as proposed developments may see Gala Coral left out in the cold.

"We are starting to look forwards, not constantly looking backwards," says a rejuvenated Goulden. "We're looking at what we are going to do with the businesses, rather than what are we going to do with the debt structure, where we've been and that constant navel gazing."
Neil Goulden – Gala Coral Chairman.