Coach firm appoints administrators as the Covid-19 crisis continues to hit the travel and holiday businesses

Based in Ashvale in Hampshire Trueman Coaches have appointed David Taylor and Paul Ellison of KRE Corporate Recovery LLP as Joint Administrators by the High Court and act as agents of the Company without personal liability.

Trueman Coaches (Fleet) Limited entered administration on Monday 27 April 2020 becoming another unfortunate statistic of the collapse of the holiday and travel industry since the outbreak of the Covid-19 pandemic.

The administrators issued this statement on the coach firm’s website to customers and suppliers: “Anyone who has paid a deposit or made a booking using credit card should initially contact their card provider to seek a refund. If you have booked a package holiday, a claim form will also be provided to enable a claim to be submitted through the Bonded Coach Holidays Group.”

Airline industry in crisis so don't give credit

Suppliers to airports and most airlines need to think twice over granting extended credit terms as the industry sees massive job losses and a collapse in business. Heathrow has shut Terminal 4, both Virgin Atlantic and British Airways are planning on pulling out of Gatwick while International Airport Review has hinted some airports may have to close for good in the UK.

And while we are on the subject of holidays and travel clearly giving hotels and holiday firms the benefit of the doubt over lapsed payments of invoices is a no-no. Several hotels and holiday firms have already gone but even ones like Airbnb are in trouble cutting 1,900 staff and investments in hotels and resorts as it struggles to survive.

Ian Carrotte said in reaction to the news: “Who could have imagined that six months ago? These are indeed very unusual times.”

Logistics firm goes bust

Logistics outfit Seaway Freight Services Ltd also appointed administrators as the downturn hit their business as have the food and drink wholesalers Confiserie Duchateau Limited in London.

Liquidators have been appointed at Heritage Projects (Canterbury) Limited who have been behind a number of high profile restoration and enhancement projects since the 1980s when they were founded.

Other firms going into administration this week include Frozen brothers Uk Retail One Limited, HM Project Developments limited, Thomas Long limited and parker & Gillam limited. Liquidators have been appointed at Barnes Fabrications, Fylde Motor Company Li mited and Furniture hire services along with a long list of other firms going to the wall.

Zombie firms likely to go

Ian Carrotte of ICSM Credit said these were unprecedented times. He said: “I can’t recall a time like this with so many firms in trouble. The Covid-19 crisis is likely to finish off the zombie firms but it is also hitting profitable companies who have found their trade has fallen off a cliff since the lock down.”

ICSM Credit

ICSM Credit has more than four decades of experience as a credit intelligence group whose members gain inside information about firms in trouble allowing them to avoid bad debts and rogue traders. To join costs less than a tank of fuel - while at the moment there's a special free temporary membership offer during the Covid-19 crisis which gives access to free legal letters. ICSM also has an effective debt collecting service which has a global reach - ask for details from Paul.

For details about ICSM Credit call 0844 854 1850 or visit the website www.icsmcredit.com or email Ian at Ian.carrotte@icsmcredit.com on how to subscribe and to join the UK’s credit intelligence network to avoid bad debts and late payers. Follow ICSM Credit on FaceBook, Twitter and YouTube and Ian Carrotte on LinkedIn.