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Author Topic: Shearings Coaches  (Read 339 times)
grahame
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« on: May 22, 2020, 07:31:26 pm »

https://www.bbc.co.uk/news/uk-england-manchester-52776657

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Specialist Leisure Group collapses into administration

The Specialist Leisure Group included well-known coach holiday brands Shearings and National Holidays.

It also operated hotel businesses such as Bay Hotels, Coast and Country Hotels and Country Living Hotels.
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« Reply #1 on: May 22, 2020, 08:41:45 pm »

https://www.bbc.co.uk/news/uk-england-manchester-52776657

Quote
Specialist Leisure Group collapses into administration

The Specialist Leisure Group included well-known coach holiday brands Shearings and National Holidays.

It also operated hotel businesses such as Bay Hotels, Coast and Country Hotels and Country Living Hotels.

Not be surprised if its the last either.

Staycations providers might be in short supply in 2021
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« Reply #2 on: May 22, 2020, 08:47:51 pm »

Or by the Autumn of 2020 it seems. (hopefully)
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LiskeardRich
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« Reply #3 on: May 23, 2020, 05:56:13 am »

Shearings failure is not a surprise. They were purchased in 2015 by a distressed business specialising venture capitalist firm. They’ve asset stripped and made huge cuts. They’ve been known within the industry to be walking the tightrope for years.

Their coaches... around 300-400 between national holidays and Shearings brands all on leases of around £3000-4000 a month.
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« Reply #4 on: May 23, 2020, 07:31:01 am »

The demise of Shearings is only one part of a much bigger picture. The editor of Buses Alan Millar, in a stark, uncomprising editorial in the latest edition, says that coach operators are the forgotten victims of this crisis. 'Practically everything a coach operator does in normal times has come to an abrupt and indefinite halt. Most home to school transport.No school camps, skiing trips, college and university field trips at home or abroad. No incoming groups of students or language students. No cruise ship passengers requiring feeder connections, or being taken on day trips. No day excursions or coach holidays. No sports fixtures, concerts of festivals. No weddings or corporate days out. No scheduled National Express or Megabus services in England and Wales to provide work for contractors.'
I suggest that we try to show support for the coach industry by 'liking' this article, and bringing this issue to the attention to MP's, Cabinet ministers, the SoS, ministers  and civil servants at the Department of Transport. The final sentence in the editorial says ' We need a coach industry and it is surely better to keep the one we have, than start another one from scratch.

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TaplowGreen
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« Reply #5 on: May 23, 2020, 07:58:58 am »

The demise of Shearings is only one part of a much bigger picture. The editor of Buses Alan Millar, in a stark, uncomprising editorial in the latest edition, says that coach operators are the forgotten victims of this crisis. 'Practically everything a coach operator does in normal times has come to an abrupt and indefinite halt. Most home to school transport.No school camps, skiing trips, college and university field trips at home or abroad. No incoming groups of students or language students. No cruise ship passengers requiring feeder connections, or being taken on day trips. No day excursions or coach holidays. No sports fixtures, concerts of festivals. No weddings or corporate days out. No scheduled National Express or Megabus services in England and Wales to provide work for contractors.'
I suggest that we try to show support for the coach industry by 'liking' this article, and bringing this issue to the attention to MP's, Cabinet ministers, the SoS, ministers  and civil servants at the Department of Transport. The final sentence in the editorial says ' We need a coach industry and it is surely better to keep the one we have, than start another one from scratch.



No doubt First Group will be eyeing an opportunity...……….
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« Reply #6 on: May 23, 2020, 08:11:54 am »

As perhaps all the bigger bus players.  That said, First finances were in a poor state before lockdown, so perhaps not them.
First Kernow also own the Truronian coaches; do any other First group own a coaching group I wonder?
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grahame
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« Reply #7 on: May 23, 2020, 08:35:53 am »

As perhaps all the bigger bus players.  That said, First finances were in a poor state before lockdown, so perhaps not them.
First Kernow also own the Truronian coaches; do any other First group own a coaching group I wonder?

Let's try some "theory" stuff.

If the coach business is being left to the commercial market, you'll see a thinning out of the weaker players with cherry picking of bits that are or should be profitable and prices rising whether there is no longer competition to a level based on what people will pay, rather than what it costs to provide.   Where there is a shortage of supply, prices rise to increase profit and supress excess demand.    If profits are mouth-watering, other players can move into the market to re-introduce competition.

How this works with near-zero income from passengers at present, and a very unpredictable future (staycation surge probable, but will it be just a blip; overseas visitor return slower but pretty hard to know when or how much), goodness only knows.  It certainly could lead to periods of shortages, oversupply, competition, further failures as the new norm shakes out.
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« Reply #8 on: May 23, 2020, 08:48:34 am »

As perhaps all the bigger bus players.  That said, First finances were in a poor state before lockdown, so perhaps not them.
First Kernow also own the Truronian coaches; do any other First group own a coaching group I wonder?

Look in the annual report, at one time Wessex were listed but not linked to any particular opco. Wessex were a major operator in Bristol based in the Kingswood area.
« Last Edit: May 23, 2020, 11:07:22 am by martyjon » Logged
martyjon
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« Reply #9 on: May 23, 2020, 10:59:27 am »

As perhaps all the bigger bus players.  That said, First finances were in a poor state before lockdown, so perhaps not them.
First Kernow also own the Truronian coaches; do any other First group own a coaching group I wonder?

Look in the annual report, at one time Wessex were listed but not liked to any particular opco. Wessex were a major operator in Bristol based in the Kingswood area.

Looked at latest annual report

Wessex of Bristol
West Dorset Coaches
First Wessex National
Smiths of Portland

all four subsidiaries share registered office with First West Of England but surprisingly Bristol Bus Station Limited has a registered office with a London address

No entry for First Kernow but there is an entry for First South West registered office in Camborne whilst Truronian registered office is in London.
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LiskeardRich
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« Reply #10 on: May 23, 2020, 11:40:48 am »

As perhaps all the bigger bus players.  That said, First finances were in a poor state before lockdown, so perhaps not them.
First Kernow also own the Truronian coaches; do any other First group own a coaching group I wonder?

First finances aren’t as bad as others, such as Go Ahead. First although having considerable debt also have the highest cash reserves of the big players. Stagecoach a close second.
Go Ahead openly told their staff they have enough funds to last 2-3 weeks without government support. Things like bus WiFi has been turned off across the Go Ahead network because they can’t afford to pay it
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LiskeardRich
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« Reply #11 on: May 23, 2020, 11:46:49 am »

As perhaps all the bigger bus players.  That said, First finances were in a poor state before lockdown, so perhaps not them.
First Kernow also own the Truronian coaches; do any other First group own a coaching group I wonder?

Look in the annual report, at one time Wessex were listed but not liked to any particular opco. Wessex were a major operator in Bristol based in the Kingswood area.

Looked at latest annual report

Wessex of Bristol
West Dorset Coaches
First Wessex National
Smiths of Portland

all four subsidiaries share registered office with First West Of England but surprisingly Bristol Bus Station Limited has a registered office with a London address

No entry for First Kernow but there is an entry for First South West registered office in Camborne whilst Truronian registered office is in London.

Truronian and first kernow are just trading names of First Southwest. The Truronian registered in London is a dormant company. The listed director was MD of FSW at the time of acquisition.
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« Reply #12 on: May 23, 2020, 12:22:30 pm »

The editor of Buses Alan Millar, in a stark, uncomprising editorial in the latest edition, says that coach operators are the forgotten victims of this crisis. 'Practically everything a coach operator does in normal times has come to an abrupt and indefinite halt. Most home to school transport.No school camps, skiing trips, college and university field trips at home or abroad. No incoming groups of students or language students. No cruise ship passengers requiring feeder connections, or being taken on day trips. No day excursions or coach holidays. No sports fixtures, concerts of festivals. No weddings or corporate days out. No scheduled National Express or Megabus services in England and Wales to provide work for contractors.'

and PRM-TSI applying to rail replacement transport which may favour procurement of buses over non-compliant coaches.
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