Shearings gone ..!!!
Posted: Fri May 22, 2020 8:41 pm
The owner of Shearings, the coach holidays provider, has crashed into administration, resulting in the immediate loss of 2500 jobs and thousands of customers' holidays being cancelled.
EY, the administrator to Specialist Leisure Group (SLG), confirmed late on Friday afternoon that it had made redundant more than 2000 staff who had been furloughed under the government's job retention scheme.
The grim news adds to the fast-growing toll of job losses across the economy as the coronavirus crisis continues to wreak havoc with industries such as leisure and travel.
SLG's operations include brands such as UK Breakaways, Coast & Country Hotels, Bay Hotels, Country Living Hotels, and Wallace Arnold Travel, has ceased trading with immediate effect.
The hotel chains will not reopen following the insolvency.
In a statement, EY said it had tried to find a buyer to maintain the travel group as a going concern but that it had not been possible.
It added that "the vast majority of customers" were expected to have financial protection from one of the Confederation of Passenger Transport, Bonded Coach Holidays, ATOL or ABTA, or through their credit or debit card issuer.
Gona be some very disappointed pensioners out there ....!!!!!
EY, the administrator to Specialist Leisure Group (SLG), confirmed late on Friday afternoon that it had made redundant more than 2000 staff who had been furloughed under the government's job retention scheme.
The grim news adds to the fast-growing toll of job losses across the economy as the coronavirus crisis continues to wreak havoc with industries such as leisure and travel.
SLG's operations include brands such as UK Breakaways, Coast & Country Hotels, Bay Hotels, Country Living Hotels, and Wallace Arnold Travel, has ceased trading with immediate effect.
The hotel chains will not reopen following the insolvency.
In a statement, EY said it had tried to find a buyer to maintain the travel group as a going concern but that it had not been possible.
It added that "the vast majority of customers" were expected to have financial protection from one of the Confederation of Passenger Transport, Bonded Coach Holidays, ATOL or ABTA, or through their credit or debit card issuer.
Gona be some very disappointed pensioners out there ....!!!!!