The Sun : Owner of coach firm Shearings collapses into administration with 2,500 jobs lost and 64,000 holidays cancelled

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THE company behind coach firm Shearings, who provide holidays for over 50s, has collapsed into administration with 2,500 jobs lost.

Specialist Leisure Group (SLG) has become the latest victim of the coronavirus crisis with 64,000 holiday bookings cancelled.

The firm behind Shearings bus company has gone into administration, with 2.500 jobs set to go[/caption]

But travel trade organisation Abta confirmed the vast majority were coach package holidays which are financially protected, so customers with these bookings will receive a full refund.

Administrator EY said that more than 2000 staff who had been furloughed would now be made redundant.

SLG's other businesses, UK Breakaways, Coast & Country Hotels, Bay Hotels, Country Living Hotels, and Wallace Arnold Travel, have also folded.

The firm also runs, which organises trips to events such as the Grand Prix at Silverstone and Wimbledon.

The business has been mauled by the coronavirus crisis, which has seen the tourist and hospitality industries shut down almost completely.

It's the latest hammer blow to the UK job market, with almost two million jobless Brits applying for Universal Credit since the lockdown began in March.

Another eight million workers have been put on the government's furlough scheme, with the state paying 80 per cent of their wages up to £2,500 a month.

But there are fears of further redundancies for those on Chancellor Rishi Sunak's scheme before it ends in October, with companies,looking to cut costs.
More to follow…

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