X

Cookies

Continue We want you to get the most out of using this website, which is why we and our partners use cookies. By continuing to use this site, you are agreeing to receive these cookies. You can find out more about how we use cookies here.
 

Tuesday, 25 November 2014

Coach company goes into administration

ONE of Tynedale’s biggest coach operators is continuing to trade despite going into administration.

Holidays, excursions and school bus services run by Haydon Bridge-based Centurion Tours Travel are being run as normal as potential buyers for the business are sought.

The Newcastle-based accountancy firm RMT was called in last week by a finance company which had an agreement with Centurion.

Mike Pott, an insolvency partner at RMT, said measures were taken immediately to safeguard those customers already on holiday or who had excursions booked in the future.

He said Centurion’s contract to operate school services on behalf of Northumberland County Council was being honoured.

He added that the 12 employees had been retained, in the expectation that the business would be sold as a going concern.

He said there had already been inquiries from other operators interested in the business, although it was likely the holiday arm of Centurion would be sold separately from the school contracts.

“All customers are assured that bookings and contracts will be honoured at this moment in time,” said Mr Pott.

He said the administration had been prompted by the rapid expansion of Centurion over recent times, which had put pressure on the availability of working capital.

In a statement this week Centurion managing director Graeme Tilley expressed huge disappointment at the administration.

He insisted the company was still trading as usual and had over £1 million in confirmed bookings for the year ahead.

“Centurion is a profitable company and has been in business for nearly 30 years and we are currently working with the administrators to bring this situation to a positive conclusion.

“We are working on various strategies regarding this and we are confident that the company will be able to keep trading without affecting our clients, suppliers or staff,” he said.

SHARE THIS ARTICLE

Quick links