National Holidays Tours Limited (03213927): administration
- Status
- Administration ended
- Administration began
- 2020-05-22
- Administrators
- Samuel James Woodward, Colin Peter Dempster
- Administrators' firm
- EY
- Formerly
- Tyneside Coach Travel Limited
- Incorporated
- 1996-06-19
- Location
- Manchester
- Industry
- 49390 Other passenger land transport
Why it went into administration
- COVID-19
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
- Loss-making contracts / project overruns
- Property / lease costs
- Brexit
From the administrators' statement
Following the announcement of Government “lock down” measures on 23 March 2020, the Group had no choice but to suspend its operations and cancel all holidays which were due to _ depart, initially between 23 March and the end of April 2020 (subsequently: extended to 16_
• June 2020).
The Covid-19 pandemic had a significant impact upon the Group’s financial position due to the seasonality of the business, as the lock down measures. commenced during a key period for cash collections. ;
Administrators' statement of proposals (2020-07-10) · Companies House register