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Tag: collapses

Coronavirus: Shearings collapses with loss of 2,500 jobs

Coronavirus: Shearings collapses with loss of 2,500 jobs

Business
The owner of Shearings, the coach holidays provider, has crashed into administration, resulting in the immediate loss of 2,500 jobs and thousands of customers' holidays being cancelled.EY, the administrator to Specialist Leisure Group (SLG), confirmed late on Friday afternoon that it had made more than 2,000 staff redundant who had previously been furloughed under the government's job retention scheme. The news adds to the fast-growing toll of job losses across the economy as the coronavirus crisis continues to wreak havoc with industries such as leisure and travel.SLG's operations include brands such as UK Breakaways, Coast & Country Hotels, Bay Hotels, Country Living Hotels, and Wallace Arnold Travel, has ceased trading with immediate effect.The hotel chains will not reopen following...
British Airways to cut up to 12,000 jobs as air travel collapses

British Airways to cut up to 12,000 jobs as air travel collapses

Business
British Airways is set to cut up to 12,000 jobs from its 42,000-strong workforce due to a collapse in business because of the coronavirus pandemic.The airline's parent company, IAG, said it needed to impose a "restructuring and redundancy programme" until demand for air travel returns to 2019 levels.The pilots' union Balpa said it was "devastated" at the news and vowed to fight "every single" job cut.IAG also owns Spanish airline Iberia and Ireland's Aer Lingus.In a statement, IAG said: "The proposals remain subject to consultation, but it is likely that they will affect most of British Airways' employees and may result in the redundancy of up to 12,000 of them."The company said it will take several years for air travel to return...
10 dead, 23 missing as hotel in China virus fight collapses

10 dead, 23 missing as hotel in China virus fight collapses

World
At least 10 people were killed and another 23 remain missing after a hotel being used in China's coronavirus fight suddenly collapsedByThe Associated PressMarch 8, 2020, 8:30 PM2 min readBEIJING -- At least 10 people were killed in the collapse of Chinese hotel that was being used to isolate people who had arrived from other parts of China hit hard by the coronavirus outbreak, authorities said Sunday. The sudden collapse of the building in the southeastern city of Quanzhou on Saturday evening trapped 71 people, China's Ministry of Emergency Management said. The ministry said that 38 had been rescued and 23 were still missing. Most of the rescued were taken to hospitals for treatment, some with serious injuries The cause of the collapse was under investigation, and the owner of the build...
Bruno Fernandes to Manchester United: Transfer latest as deal COLLAPSES with Red Devils unwilling to match Sporting’s asking price

Bruno Fernandes to Manchester United: Transfer latest as deal COLLAPSES with Red Devils unwilling to match Sporting’s asking price

Sports
Manchester United have been dealt a huge blow with Bruno Fernandes’ proposed transfer to Old Trafford OFF. This is according to the latest reports which claim the deal has collapsed heading into the final week of the transfer window because United will not match Sporting’s asking price for their star midfielder. Sporting are also unwilling to lower their £68million valuation and have rejected an offer from the Red Devils worth £42.5m up front with a further £8.5m in add-ons. Getty Images - Getty Fernandes was due to join Man United – it appears the deal is now OFF Jermaine Pennant blasts Ole Gunnar Solskjaer for negative tactics at Manchester United The Sun say Joel Glazer, the Man United co-chairman who signs off on transfers, i
Bolton’s EFL future under renewed threat after takeover deal collapses

Bolton’s EFL future under renewed threat after takeover deal collapses

Sports
The latest takeover deal to buy Bolton has collapsed with administrators warning the "process of closing down the company" could begin on Wednesday. The club has been given until 17:00 BST on Tuesday to complete the sale or offer reasons for an extension, or face expulsion from the EFL.Administrators say the League One club is currently not in a position to carry on trading. That would lead to its liquidation and the loss of over 150 jobs. Paul Appleton, joint administrator for Bolton Wanderers, said the deal collapsed on Saturday, and despite working around the clock they are still some way from reaching a solution.He said in a statement: "Unless there is a change of position from any of th...