Travel de Courcey has collapsed into administration, placing 180 jobs at risk. The Coventry operator took the decision after seeing a dramatic decline in passenger numbers and income caused by the coronavirus COVID-19 pandemic.
Matt Hardy of insolvency practitioners Poppleton and Appleby has been appointed as Joint Administrator. Mr Hardy says that he is now working to salvage what is possible from “a very bad situation.” Interest is expected in “certain strands” of the company.
Travel de Courcey CEO Adrian de Courcey explains that there was no alternative to placing the business into administration. “The move is very much a last resort brought on by global circumstances beyond our control. We saw a huge and sudden collapse of business at the start of the lockdown and it has not improved sufficiently.
“For example, we operate a service from Coventry to Leicester. On many days, it has run without any passengers at all.
“It is perfectly understandable that people have been very cautious about public transport, and many of those who have returned to work have taken alternative modes. Travel de Courcey is a family-owned and -run company that has always valued the dedication and loyalty of its staff. We have been consulting with colleagues and this has been very hard for everyone.
“The company has been a huge part of my own family’s life and we are immensely proud of the contributions and achievements of our employees over many years. Our thoughts are with all our colleagues, customers, suppliers and the local communities that we serve.
“It is a deeply sad day.”