Betfred has confirmed plans to shut around a tenth of its UK stores from September. The company, which was founded by brothers Fred and Peter Done in 1967, is one of the country's biggest betting shop operators. It has three locations in Ipswich in Westgate Street, Upper Brook Street, and Nacton Road. READ MORE: Future of high street giant in doubt after £7 billion takeover bid collapsesThe bookmaker said higher taxes and economic uncertainty are among the reasons for the upcoming closures of around 130 stores. Betfred has not yet shared a list of the stores set for closure.