Fri, 07 Jan 2011 | ADMINISTRATION
Wales's largest operator of coach holiday tours has announced that it is on the verge of entering administration.
The BBC has reported that Diamond Coach Holidays has fixed a notice outside its premises in Cardiff stating that it has ceased trading and that it is currently seeking an administration order.
The company, which has its headquarters in Swansea, has organised coach trips around the UK and Europe since 1954, and currently carries more than 80,000 people on holiday every year.
It is understood that an administrator is due to be appointed on Friday afternoon, who is likely to look for opportunities to sell the business.
The company has a workforce of around 70 people and has experienced a number of positive developments in recent year, including investing more than £5 million in 20 brand-new, high-end coaches. The 2010 brochure for the company also pointed out that its sales in 2009 had increased by 15 per cent on the previous year.
The company has not yet issued an official statement on the administration aside from the sign, but more details are expected soon on how those who have booked holidays through the firm may be affected. The company's depot is located in Swansea's Enterprise Zone and it has a shop each in Swansea and Cardiff city centres.
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