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Tailor Made Travel acquired by Hays Travel after entering administration

 

Tailor Made Travel has been acquired by Hays Travel after the company, which has stores in Barry, Penarth and Cowbridge entered administration.

The deal which has been confirmed by Hays Travel is said to include Tailor Made Travel's 20 shops and around 100 employees.

In a statement from Hays Travel said: “Tailor Made Travel Ltd went into administration at 4pm on Thursday, with Deloitte appointed as administrator.

“Hays Travel had been contacted and made an expression of interest.  Our offer to acquire all 20 shops was agreed, as was the retention of approximately 100 employees, late Friday afternoon.”

Two weeks ago, the companies chief executive said he planned to close 15 stores in the autumn as part of hibernation plans.

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Speaking them he said he expected to keep five ‘crisis stores’ open, and hoped to introduce a homeworking operation in order to bridge the period between the end of the government’s furlough scheme and next spring, when some revenues would return.

Speaking to Travel Weekly after the administration and subsequent acquisition, he said: “It’s devastating but I take consolation in the fact that this protects the future of the 100 employees.

“We realised very quickly that the hibernation process would still leave us exposed to rents, rates, salaries and possibly redundancy costs and it just wasn’t practical. It was compounded by the lack of ability to sell any imminent travel and make any immediate commissions.”

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