Bingo has announced its plans for a significant overhaul in future months. The company is seeking to sell off a selection of its sites as the firm prpares itself for a rebrand.

Caledonia Investments, private equity owners of Gala Bingo since 2015, is planning to sell some of its sites, as well as offering some companies the option of taking up excess space in various locations.

The last available set of figures for Gala Bingo were back in 2015, where operating profits fell by 5% to £746,000. Moreover, pre-tax profits heavily dropped from £40.9m in 2014 to £1.9m, due to payments from other group companies not being repeated.

Potential buyers including supermarket chains Co-op, Nisa and Farm Foods, in addition to Gym Box and The Gym have been approached about whether they are interested in any of Gala sites.

Sources suggest that the name being considered for the rebranding is Buzz Bingo. A spokesman for Gala declined to comment on the rebrand; however, she said that the company always reviewed its estate.

“We regularly review opportunities to invest in our estate and create added value services for our customers. There may be occasions where clubs are considered for disposal but this will be on a case-by-case basis.”