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Diamond Coach Holidays 2010 Demise: Where You There?
Diamond Coach Holidays 2010, once carried up to 80,000 people a year, and were the largest holiday coach operator in Wales, and a leading tour operator in the UK. However, recent economic downturns and negative financial decisions brought the company to a close in early January, 2011.
Diamond specialised in UK holidays, short breaks, day trips and theatre breaks to hundreds of destinations across the UK and Europe, and catered to a wide and varied range of attractions, events and destinations.
Created in 1954, they were known for their great value holidays, attention to detail, personal touch and excellent customer service. Diamond holidays short breaks and day trips appealed to an assortment of tastes and budgets.
However, at the beginning of 2011, the popular carrier, which employs 86 people and has an annual turnover of nearly £11 million, went into receivership to the chagrin of thousands of travellers around the UK and beyond. Administrated by Price Waterhouse Coopers, joint administrator Roger Hale, of PwC cited the following reasons for Diamond holidays demise: ''The companies have suffered as a result of the ongoing economic challenges facing this particular segment of the travel and hospitality sector, including increased fuel and other costs, which resulted in difficult trading conditions," He added: "'The administrators will be reviewing the position regarding outstanding customer bookings." ''The provider of this cover will be writing to all customers who have paid for outstanding coach holidays to provide those customers with guidance on submitting their claims.''
Customers who paid more than £100 on their credit cards were able to claim a refund from their credit card provider, however, those under that figure lost out on the companies closure. There are currently meetings with a number of companies who have expressed an interest in taking over the firm.
Does this spell doom for other tour operators and business's in the travel sector? Only time will tell.