Specialist Leisure Group Limited and certain subsidiaries* (in Administration) ('the Specialist Leisure Group')
The Specialist Leisure Group entered Administration on 22 May 2020.
More info below:
https://www.shearings.com/
Quote from: Winston on May 22, 2020, 05:48:47 PM
Specialist Leisure Group Limited and certain subsidiaries* (in Administration) ('the Specialist Leisure Group')
The Specialist Leisure Group entered Administration on 22 May 2020.
More info below:
https://www.shearings.com/
Unfortunately, I can see many more coach/tour operators going this way. As far as I'm aware, there has been no financial support for companies, many of whom have staff furloughed and vehicles sat doing nothing.
Quote from: Pat on May 22, 2020, 05:54:59 PM
Unfortunately, I can see many more coach/tour operators going this way. As far as I'm aware, there has been no financial support for companies, many of whom have staff furloughed and vehicles sat doing nothing.
Mostly likely, and the bulk of their customers are also the most vulnerable, which will be the last to come out of isolation i.e. OAP's
Shearing's article:
https://news.sky.com/story/coronavirus-shearings-collapses-with-loss-of-2500-jobs-11992922
Quote from: Winston on May 22, 2020, 05:58:09 PM
Mostly likely, and the bulk of their customers are also the most vulnerable, which will be the last to come out of isolation i.e. OAP's
Shearing's article:
https://news.sky.com/story/coronavirus-shearings-collapses-with-loss-of-2500-jobs-11992922
Also, this will likely have a knock on effect on the hotel industry - especially in seaside resorts, such as Torquay, where the hotels rely on coach holidays.
Quote from: Pat on May 22, 2020, 06:21:46 PM
Also, this will likely have a knock on effect on the hotel industry - especially in seaside resorts, such as Torquay, where the hotels rely on coach holidays.
Not sure, I think seaside hotels should be ok, as those that would normally holiday abroad will have holiday in the UK this summer
Quote from: Winston on May 22, 2020, 06:24:11 PM
Not sure, I think seaside hotels should be ok, as those that would normally holiday abroad will have holiday in the UK this summer
Possibly, although I expect the prices of holidays in this country to be extortionate which may put people off.
Presumably the assetts will be up for sale by the administrators
Quote from: Pat on May 22, 2020, 06:27:17 PM
Possibly, although I expect the prices of holidays in this country to be extortionate which may put people off.
I agree, but as demand will exceed supply & people will be desperate to get away, so they'll get away with it....
Quote from: Tony on May 22, 2020, 06:30:05 PM
Presumably the assetts will be up for sale by the administrators
would a lot of the coaches be on lease agreements
If yes probably not much assets value left
Quote from: karl724223 on May 22, 2020, 07:03:49 PM
would a lot of the coaches be on lease agreements
If yes probably not much assets value left
Correct.
There assets are basically their name, which I would be surprised if someone didn't buy to advertise a much smaller 2021 coach holiday programme
Quote from: Tony on May 22, 2020, 07:06:39 PM
Correct.
There assets are basically their name, which I would be surprised if someone didn't buy to advertise a much smaller 2021 coach holiday programme
A well known name would certainly carry quite a bit of value. I presume that depots etc are all leased?
SLG had been up for sale for many months before the Corona pandemic. All of the fleet is leased and the Bay hotel properties sadly need a vast amount of money invested in them. The National Holiday brand was very much a low cost operation using mainly Britannia hotel properties for there UK tours.
There demise comes as little surprise to the uk coach tour industry, and unfortunately its not the first coach tour operator to call in the administrators and without government assistance it will not be the last.
The UK coach industry (not just coach tour operators ) is in need of urgent assistance.
The demise of SLG has alone as placed 240 coaches on to the market and this will further devalue operators fleets.
Wouldn't it of been better to sell it off hotels one owner & shearings. another rather than as a whole now more people might be out of a job
Why did it they sell to usa firm when they are based in England
Quote from: Solo1 on May 25, 2020, 08:51:40 AM
Why did it they sell to usa firm when they are based in England
Because they would have been the ones interested in a sale. You don't need to be based in England to own a business here. Cadbury's for example are owned by the American firm Kraft and have been for some years now.
Quote from: Pat on May 25, 2020, 09:46:58 AM
Because they would have been the ones interested in a sale. You don't need to be based in England to own a business here. Cadbury's for example are owned by the American firm Kraft and have been for some years now.
And it works the other way around. National Express purchased and own businesses in the USA
Yesterdays news ! Leger Holidays have acquired the Shearings "brand" . . . . and are advertising as such on Leger.co.uk , it appears that they have got the National Holidays name also.
Quote from: B61 ANDREW on July 02, 2020, 11:36:59 AM
it appears that they have got the National Holidays name also.
Or maybe not !
It's all very sad coaching industry is not what it use to be all the family owned companies have nearly all vanished , my dad drove for Evergreen during 80s great company and immaculate vehicles too.
There normally aspirated Ford powered Duples were slugs but the turbo ones were good, but Volvo powered Duples were summat else entirely.
I used to tag along if there was a spare seat going.
Quote from: 2900 on July 03, 2020, 01:53:38 PM
It's all very sad coaching industry is not what it use to be all the family owned companies have nearly all vanished , my dad drove for Evergreen during 80s great company and immaculate vehicles too.
There normally aspirated Ford powered Duples were slugs but the turbo ones were good, but Volvo powered Duples were summat else entirely.
I used to tag along if there was a spare seat going.
Evergreen Coaches was one of the most professional run coach Coach operators of all. Knew & used the company for over 30 years as my mum went to school with Iris Field the founders daughter. Very sadly missed by many including myself.
I was wondering if the Henley in arden? based coach company Johnsons are likely to
be dissolved? They used to have a number of school contracts but with the limited
school attendances in the near future I can't see much profit . I went to school in henley
in the late 50's and their business was at the bottom of livery hill I think they only had about 10 vehicles in those days! I imagine the original owners passed away years ago.
Quote from: windy miller on July 03, 2020, 07:26:46 PM
They used to have a number of school contracts but with the limited
school attendances in the near future I can't see much profit .
I think I read schools will be reopening fully in September. And the Government said school attendance is mandatory from September.
I am still not sure if Leger have the National Holiday /Wallace Arnold brands or not. Reading some of a report by E & Y shows that they received two bids at the start of May , one for the whole business and assets and one for partial business and partial assets - both of which fell through. So administration followed. If you read further into the article it says how much Leger paid for the "Shearings brand". It also states all {leased } coaches have returned to their various leasing companies. I guess I have to finish by wishing Leger good luck in their investment and to say at least the Shearing name will continue.
Quote from: windy miller on July 03, 2020, 07:26:46 PM
I was wondering if the Henley in arden? based coach company Johnsons are likely to
be dissolved? They used to have a number of school contracts but with the limited
school attendances in the near future I can't see much profit . I went to school in henley
in the late 50's and their business was at the bottom of livery hill I think they only had about 10 vehicles in those days! I imagine the original owners passed away years ago.
https://www.johnsonscoaches.co.uk/news/262/covid19--safe-operating/ (https://www.johnsonscoaches.co.uk/news/262/covid19--safe-operating/)
This news item on the Johnson's website (dated 30 June 2020) seems to give the opposite impression, that they will be restarting their coach holidays and trips soon.
Johnsons Coaches are still a family run business and apart from the coaches they also run bus services, mainly in Warwickshire
thanks for the info guys