Reports Wigan coach holiday firm has started administration process

The owner of a Wigan-based coach holiday firm has reportedly started the administration process.
Watch more of our videos on Shots!
and live on Freeview channel 276
Visit Shots! now

Sky News has reported that Specialist Leisure Group (SLG) has filed a notice of intention to appoint administrators to a number of subsidiaries, including Shearings.

Sources told Sky News that accountancy firm EY had been lined up to handle the insolvency process, which gives 10 days of breathing space in which to find new backers.

Hide Ad
Hide Ad

Last week it was reported that PricewaterhouseCoopers had been working with SLG and its shareholder, the US-based private equity firm Lone Star, on efforts to secure a rescue deal.

Shearings is based in WiganShearings is based in Wigan
Shearings is based in Wigan

They were said to have been in advanced talks with several potential buyers at that time.

If the firm becomes insolvent, 2,600 jobs could be at risk.

Shearings has been badly affected by the coronavirus pandemic and many of its staff have already been placed on furlough.

A statement from SLG last week said: “The travel industry has been severely affected by the impact of Covid-19 and the inability to operate any holidays on government instruction.

Hide Ad
Hide Ad

“Specialist Leisure Group is actively in dialogue with its stakeholders, advisers and the Government regarding its options, which include the sourcing of the necessary financial support to enable the company to weather the storm of Covid-19.”

Meanwhile, more than 7,200 people have signed a petition calling on the government to help Shearings.

It states: "The government need to help this company and the travel industry. Shearings have been operating for 100 years and are now in danger of going under due to Covid19. I always travel with them, the staff are friendly, knowledgeable and courteous. And funny! I have met some lovely people and we are like a huge family. Please help them and the rest of the travel industry."

Based on Waterside Drive in Wigan, Shearings was founded more than a century ago and offers more than 170 travel destinations.

A message from the Editorial Director, Gillian Parkinson:

Thank you for reading this story on our website.

But I also have an urgent plea to make of you.

Hide Ad
Hide Ad

In order for us to continue to provide high quality local news on this free-to-read site and in print, please purchase a copy of our newspaper as well.

With the coronavirus lockdown having a major impact on our town centres and many of our valued advertisers - and consequently the advertising that we receive - we are more reliant than ever on you buying a copy when you pop out for your essential shop or subscribing for delivery.

Our journalists are highly trained by the National Council for the Training of Journalists (NCTJ) and our content is independently regulated by IPSO to some of the most rigorous standards anywhere in the world. Our content is universally trusted - as all independent research proves.

As Baroness Barran said in a House of Lords debate this week on the importance of journalists: "Not only are they a trusted source of facts, but they will have a role to play in rallying communities and getting the message across about how we can keep ourselves and our families safe, and protect our NHS. Undoubtedly, they have a critical role."

Hide Ad
Hide Ad

But being your eyes and ears comes at a price. So we need your support more than ever to buy our newspapers during this crisis. In return we will continue to forensically cover the local news - not only the impact of the virus but all the positive and uplifting news happening in these dark days.

We thank all our readers and advertisers for their understanding and support - and we wish YOU all the best in the coming weeks. Keep safe, and follow the Government advice. Thank you.


You can subscribe for delivery by contacting us at [email protected] or calling us on 0330 4033004 for details of a participating newsagent near you.