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SLG in administration - another victim of the current situation

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The_38th_Parallel  Male  Essex
23-May-2020 09:36 Message #4780629
Another travel group goes into administration due to the current situation.

Specialist Leisure Group who own a number of travel firms Shearings Holidays (Europe's largest coach coach tour operator), Wallace Arnold Travel, Bay Hotels, Coast & Country Hotels & Country Living Hotels to name a few. And the hotels will now not reopen.
On top of the Group's 2,500 jobs that have gone, it's going to be a big blow to the local economy around these hotels as the guests brought in much needed employment and business, especially off season when resorts are quiet.

I've enjoyed many an off season long weekend trip with Shearings as a single traveller and with family.
Sometimes it's just nice to get on board, and let someone else take the effort of getting you to the door of the hotel. And the Shearing's operation was so slick and well organised, especially when it came to looking after their older clientele.
wonderoushen  Female  Gwynedd
23-May-2020 09:42 Message #4780630
I think we'll see a lot more travel companies go, the travel sector was struggling before CV19 as so many people book travel and accomodation online that they've found themselves. I imagine the 'turkey and tinsel brigade' will miss them, we used to get loads of them turn up at EWM, more in winter than in summer.
tumbled  Male  Gloucestershire
23-May-2020 09:55 Message #4780633
I've got to say...I often don't understand Companies folding......

In this case....isn't the furlough thing meant to cover stuff like that....I know the furlough thing is only temporary....but I thought it was there to stop companies collapsing....

Post virus.....things will pick up again....maybe bit by bit.....maybe a lot 'smaller' than before.....but it seems a bit drastic to fold completely....

Another thing I often notice.......When companies fold.....the people running them generally remain millionaires...perhaps billionaires....How is that allowed to happen?.....

I know there's more to it than that.....and as I've said.....I don't understand the ins and outs of it all.....
Pboro Trevor  Male  Cambridgeshire
23-May-2020 10:29 Message #4780644
Tumbled - even if a company furloughs its employees it still has to pay all its normal overheads - rent, lease payments for its coaches, administration costs etc. Where a company has tight margins and a small cash balance, after a while, as the cash runs out, it has no choice but to fold

tumbled  Male  Gloucestershire
23-May-2020 10:43 Message #4780646
Good point...
BOYDEL  Male  Surrey
23-May-2020 10:43 Message #4780647
Owners/Directors of larger companies usually operate at arm's length via the usual Limited Company route - so once the Directors have been paid their Salaries/Dividends those monies remain the personal wealth of the recipients after the usual taxes have been paid - ie Corporation Tax on net Company profits - followed by Personal taxes on receipt by Directors of Salary/Dividend payments.

Some argue that such limited personal liability is wrong whilst on the other hand lack of such a facility would likely stifle a lot of people's entrepreneurial ambitions - as the risks would be too high - eg a potential loss of the family home by starting a new business if both business and personal finances remained totally linked.

Even if an ailing company is able to furlough staff - the company will still have bills to pay but little or no income and the law then mandates going in to administration.
The_38th_Parallel  Male  Essex
23-May-2020 11:08 Message #4780648
It must come down to very tight margins.
You could have an off-peak 3 night/4 day Shearings trip including the coach travel, an excursion, half board accommodation, sometimes 4 free drinks on the Saturday night at the hotel, entertainment for those that wanted it. All for around £100 (and that included a single supplement for those that had to pay it).
I only used it as an easy way to get to some nice locations with some good walking opportunities with the added benefit of not having the car or having to sort out dining arrangements.

I've read that Hertz is now close to folding too.
BOYDEL  Male  Surrey
23-May-2020 11:43 Message #4780664
Yes Sky News now says Hertz is filing for bankruptcy
wonderoushen  Female  Gwynedd
23-May-2020 18:48 Message #4780743
I sort of think it unfair for firms who know they're not going to survive to put staff on furlough, but if I was staff member then I probably be glad that I had 80% of my wages rather than the measly amount of UC.

I think there will be more companies folding or shrinking over the coming couple of months and some quite big ones too, like Rolls Royce cutting so many jobs, but I think some of these companies have been in trouble for a while. I wonder if some are using CV19 as an excuse to make cuts that they've been to afraid to do for a while because of public opinion?

I agree with Boydel about the PLC route, you'd have to be made or totally confident to run a company without it being limited, but I also wonder at the competance of many of these directors who mismanage a company and yet walk away with megabucks whilst leaving all thier staff on benefits. I know some company bosses arn't taking their divy this year or their bonus's and I think thats only right, but why should they get megabucks or things that would get the rest of us fired and maybe prosecuted?
persona_non_grata  Male  North London
23-May-2020 19:09 Message #4780745
When talking about companies I think the public immediately think of lazy bosses taking advantage of staff and living the highlife but in my experience that is rarely the case. Most of the companies I have done business with have been medium sized businesses with bosses working every possible hour including evenings and weekends. If a business plays by the rules, adheres to H&S legislation and pays reasonable salaries it's more likely to 'tick over nicely' than make a fortune due to overheads and as such it wouldn't take much to tip the scales to bankruptcy.
In my early days of being self employed my house was in my wife's name in the hope that it would be saved in a major catastrophe but later I became a limited company for the same reason.

I have staff on furlough but my premises and business are the wrong size to attract many benefits. Like most others I can borrow unlimited amounts, bank charges have ceased, insurances have reduced but nothing which begins to cover the overheads. On saying that, I realise the government can't introduce legislation at a moment's notice which can help every single person. I do think they have done an excellent job overall.
When we go back to work which is already beginning to happen the overheads will go up substantially due to extra CV!9 precautions and equipment we will need. Jobs are likely to take longer for the same rates (or less). Work will have partially dried up due to so many businesses closing and potential clients having less money.

Interestingly. I had taken on a new driver who is now on furlough with the firm which employed him prior to me taking him on. Those on zero hour contracts can be furloughed.

That's me had my little moan lol.
BOYDEL  Male  Surrey
23-May-2020 19:38 Message #4780746
People need to appreciate that where a Ltd Co is set up - even as a one man band - the Company per se is immediately a separate legal entity to the Director(s) - and both entities attract a range of taxes.

One of the greater complexities of running business via Incorporation is how the Director(s) extract any net profits after the Company has paid Corporation Tax thereon.

Many of the smaller SMEs are literally just a husband and wife team with both as Director/Co Sec - where they pay themselves a salary the Company has to pay Employers NI from the pre tax profits - whilst the spouses then are liable for Employees' NI at 13.8% on their salaries - so typically in current tax year they might limit salaries to the £9500 pa threshold where NI kicks in - and take any excess income as dividends - though the tax on dividends has recently been increased.

In current CV furlough scenario - such a couple could then only claim against their £183 weekly salary and get a furlough payment of just £146 weekly each.

A lot of low paid PAYE workers will likely sleep easier at night as they can forget all about work once they finish a shift.
usuallyLaura  Female  Devon
23-May-2020 19:51 Message #4780752
3 hotels in torbay are/were bay hotels so that will have an impact on torbay.

on a similar note, morrisons took on temps around the beginning of lockdown to cope with the increased demand of food delivery - my daughter informed me that a shearing coach driver had applied as he was on furlough. don't know if he got a job, i expect he did.
The_38th_Parallel  Male  Essex
23-May-2020 21:50 Message #4780772
I always found the Shearings drivers really nice guys, some were real characters and all excellent drivers too. It's a big responsibility to be in charge of a large tour coach and passengers..
I hope they all a manage to find something else.
BOYDEL  Male  Surrey
24-May-2020 09:06 Message #4780825
Govts (local and national) seem hell bent on taxing private cars off the roads so bus/coach drivers seem to have a secure future once the economy is back to normal.

wonderoushen  Female  Gwynedd
24-May-2020 10:23 Message #4780837
If you look at the improved air quality whilst all the cars have been off the roads, then you really have to start asking serious questions about private car use, we know the damage air polution causes to human health as well as the planets health. We know that we will have to do something to reduce traffic, if people can be encouraged to cycle, walk or use public transport as well as keep working from home, then its a win win, people will be fitter, the air will be cleaner so there will be less asthma and general breathing difficulties which will save the NHS loads of money.
BOYDEL  Male  Surrey
24-May-2020 11:02 Message #4780849
Indeed I agree that in the internet era most office workers can work from home most of the time.

The ongoing move to automate many paid jobs out of existence is said by several University studies to be likely to eradicate around 10 million of the more routine jobs over next 10/15 years - with jobs paying less than £30k pa being far more at risk of automation.

That said the majority of workers are not in offices and many have long commutes which make cycling/walking impractical esp in bad weather - and more so if needing to carry anything heavy/bulky.

As a former keen cyclist (around 15000 miles pa for many years) who has been hit 3 times by motor vehicles the practicalities for swopping a car for a bike are pretty lacking - and of course mandates a pretty decent level of physical fitness to start with.

I am somewhat equivocal about the true cause of the increasing incidence of asthma - as a UK study 2/3 decades back flagged that there was still an increasing asthma incidence in say the highlands of Scotland many many miles away from major road arteries - so maybe there are other triggers?
The_38th_Parallel  Male  Essex
24-May-2020 12:32 Message #4780862
Cycling's fine if you're just going out for a jaunt. But in the real world it's just plain bow-locks.

I only live 3 miles from the allotment I have, but all very busy roads to get there. Can't leave anything on site due to the risk of break-ins so invariably I have to take a few bags of kit with me and not to mention plants &/or bring produce home.

I did have to cycle there once when the car was off the road for a few months and had to go on such a circuitous safer route to avoid the busy roads that I was knackered before I started. Then after 4 or 5 hours graft on the plot I really didn't fancy the ride back. And forget about taking anything like soft fruit home, most times all I had left was squashed fruit & a lot of juice.

Similarly caring for an elderly relative. Yes I could get there on a bus (and did), it's only about 5 miles away, so about 15 minutes. But what a nightmare, to get there on public transport I'd have to walk about half a mile to the stop. and then it's a good 45 minutes journey. But then there's all the gear I have to take with me each time, and the laundry/ironing, and the supplies to take in and then the shopping when that has to be done. I never go there with an empty boot.

And I'm only one example and hardly in a unique situation.

Sorry, but you don't have to ask serious questions about private car use. It's got nothing to do with being encouraged to use a bike or public transport. Neither of these is either practical or realistic as an option to your own transport.
LesleyinCoventry  Female  the West Midlands
24-May-2020 14:24 Message #4780884
I have spent more time than I would like trying to reclaim monies! I was self driving to a shearing 's hotel in Whitby. Really annoyed that because this doesn't count as a package, I am not able to claim via ABTA. I have just had to complete online form, up loading evidence to try and claim via my credit card. Sorry to see shearing's go, they provided good value, in some great locations.
FirmButFair-TrollPatrol  Male  North Yorkshire
24-May-2020 14:53 Message #4780893
Really annoyed that because this doesn't count as a package, I am not able to claim via ABTA.

Yes that has always been the case as there has to be more than one item purchased to become a 'package' and be covered.
FirmButFair-TrollPatrol  Male  North Yorkshire
24-May-2020 15:08 Message #4780895
persona_non_grata Male North London
23-May-2020 19:09 new Message #4780745
When talking about companies I think the public immediately think of lazy bosses taking advantage of staff and living the highlife but in my experience that is rarely the case. Most of the companies I have done business with have been medium sized businesses with bosses working every possible hour including evenings and weekends.

We make a lot of our judgements by referring to the media and according to the news it is all about multinationals ripping off the world and not paying taxes which makes good headlines. They forget about the majority of companies struggling to make a living.
HotOrWot  Male  Lancashire
24-May-2020 22:05 Message #4780952
That's true FirmbutFair.
The_38th_Parallel  Male  Essex
27-Jun-2020 08:53 Message #4784899
Good to read that the Shearings brand has been acquired by Leger Holidays, and will operate Shearings as a stand-alone brand within its portfolio.

Whether the very affordable off-peak short break deals that made Shearings so attractive to use, will now be possible is another thing as SLG, of which Shearings were part, also owned the hotels (under the Bay, Coast & Country names) that you stayed in.

But it's good news for the excellent Shearing's drivers who will presumably be able to return too.
Templar2013  Male  South East London
27-Jun-2020 10:20 Message #4784903
Some of the prices charged by coach companies for inclusive holidays are unbelievably cheap. I'm surprised more holidaymakers don't take advantage.
Greencare  Female  Berkshire
27-Jun-2020 16:53 Message #4784927
Shearings advertisements now say Legers but no further details. I have been with Shearing a few times and they have always been very good.
The_38th_Parallel  Male  Essex
8-Jul-2020 14:24 Message #4786212
For those interested.
Shearings now operating as part of Leger
is now offering trips in the UK (many at former Bay & Coast & Country Hotels) and Europe.

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