Owner of coach holiday provider Shearings collapses

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Firm that owns coach holiday provider Shearings collapses with loss of 2,500 jobs, in latest blow to travel industry

By Daily Mail City & Finance Reporter

Published: | Updated:

The firm that owns coach holiday provider Shearings has collapsed with the loss of 2,500 jobs, in the latest blow to the travel industry. 

Administrators at EY were unable to find a buyer for Specialist Leisure Group, which also owns brands such as Country Living Hotels and UK Breakaways. Its hotel chains are not expected to reopen. 

Body blow: Specialist Leisure Group, which owns Shearings, had been on the brink for several weeks

EY said it had made around 2,500 staff who had been furloughed redundant – adding to a grim toll of cuts in a sector which has seen firms including Tui, British Airways and Virgin axe jobs. 

Thousands of customers face holidays being cancelled. EY said the ‘vast majority’ are protected financially through industry bodies or their credit card providers. 

Specialist Leisure Group had been on the brink for several weeks. 

Joint administrators Sam Woodward said: ‘The group has been significantly impacted by the pandemic as all tours, trips and events have been cancelled and the hotels closed to the public, leading to a significant cash shortfall.’

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