Coach company Shearings collapses into administration

Specialist Leisure Group, owner of coach company Shearings, has collapsed into administration, putting around 2,400 jobs at risk.

More than 64,000 bookings have been cancelled as a result.

Travel trade association Abta said the coronavirus pandemic is the main reason for its failure as it battled with thousands of refunds and a stop to new bookings.

EY, the company’s administrator had tried to find a buyer to maintain the travel group as a going concern but it had not been possible.

The Wigan-based company, which also owned National Holidays, Wallace Arnold Travel and Bay Hotels, was founded in 1919 but

Read More

Eddie Stobart lorry company buys its own name

The Eddie Stobart lorry company has bought its own name in a £10m deal aimed at ending confusion about the brand’s ownership.

The lorry business, beloved by truckspotters up and down the land, will buy the Eddie Stobart and Stobart brands from a subsidiary of Stobart Group, a London-listed engineering, energy and aviation group whose interests include Southend airport.

Under the agreement Stobart Group will rename itself.

The lorry firm was spun off from the main business as a separate logistics operation and floated on Aim six years ago as Eddie Stobart Logistics, with its largest shareholder being asset manager

Read More

Philippine home services company GoodWork raises $1.6m

HANOI — Philippine home services e-commerce platform GoodWork has raised $1.6 million in seed funding, led by California-based venture capital fund Chaac Ventures, according to an announcement.

The round also saw participation from investors Elysium Venture Capital and Kairos K50, and angel investors from Facebook and Snapchat.

GoodWork was founded in October 2018 by Andrew Koger, who previously ran Lazada’s fulfillment operations in the Philippines. The company plans to use the cash to expand its business across Southeast Asia. It offers an array of home services ranging from cleaning, laundry delivery, air conditioner cleaning and home repairs, to health and

Read More

A Drug Company Wagers the U.S. Won’t Dare Charge It With Crimes

In the coming days, the Justice Department will make an important decision: whether to file criminal charges against one of the world’s largest pharmaceutical companies for allegedly colluding with rivals to inflate the prices of widely used drugs.

It is a high-stakes gamble that could affect millions of Americans who rely on Teva’s dozens of inexpensive generic drugs, as well as its brand-name products like

Read More