Posted: 07.09.20 at 12:56 by Alex Jones
Tailor Made Travel - a Welsh travel company with a branch in Barry - has been acquired by Hays Travel shortly after entering administration.
The deal will cover Tailor Made’s retail estate of 20 shops and about 100 employees.
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.”
The move comes amid the mass closure of travel companies as international tourism declines by 60% in 2020 because of the coronavirus (according to OECD).
Although Hays has been steadily expanding during COVID-19, in August it announced a consultation on 878 roles. The Sunderland-based company said changes to quarantine rules had “turned the tap off” on bookings and that it was “no longer sustainable to retain all of its 4,500 staff”.
It is currently unclear whether staff at the Barry branch will be affected by this consultation.