Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The Specialist Leisure Group (SLG), the British hotel and travel company, has entered administration and ceased trading with immediate effect, making 2,460 employees redundant. About 70 employees have been retained to assist with the closure of the business. Around 2,200 of the group's employees, whose headquarters are in Wigan, were out of work and being supported by the UK government's furlough scheme.
The chief executive of the group said that the coronavirus pandemic had devastating effects on the group: holidays and tours had been cancelled and with thousands of customers claiming refunds the group faced significant cashflow problems.
SLG was founded over 100 years ago - it operated several traditional British brands, such as Caledonian Travel and Bay Hotels.
Eurofound (2020), Specialist Leisure Group, Bankruptcy in United Kingdom, factsheet number 100929, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/100929.
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