(Reuters) - Holiday package provider Specialist Leisure Group entered administration on Friday and would lay off nearly 2,500 jobs, becoming the latest victim of the coronavirus crisis that has brought global travel to a virtual standstill.
The Wigan-based company, owner of brands such as Shearings and Coast & Country Hotels, said all tours, cruises and hotel bookings made by its customers have been cancelled, with some of its hotels also ceasing operations. (bit.ly/2ZodYlI)
EY, the administrator, said jobs of 2,460 employees, majority of which were furloughed initially, would be made redundant and the group was contacting customers over claims and cancellations. (go.ey.com/2Zzkzdf)
“The directors of the Group have been in discussions with a number of parties, seeking a going concern buyer for the business. Unfortunately ... no viable transaction structure was able to be agreed,” EY’s Sam Woodward said.
The company specialises in escorted tours, short breaks, events and river cruises for the over-50s.
Reporting by Pushkala Aripaka and Samantha Machado in Bengaluru; Editing by Aditya Soni