Welsh coach operator Diamond Holidays, which went into administration earlier this month, has been rescued by Edwards Coaches.
Administrator Pricewaterhouse Coopers said Edwards, the largest privately-owned coach company in the country, had bought the Diamond Holidays name, goodwill and future holiday bookings, along with Brian Isaacs Ltd which was also part of the business, for an undisclosed sum.
Edwards said it would be contacting people with bookings with the failed company and would do its utmost to honour them.Pontypridd-based Edwards, which employs 245 staff and operates 140 vehicles, said it would retain a number of staff at Diamond’s Swansea headquarters.
PwC joint administrator Roger Hale said the sale was completed on Monday.
“The administrators would like to thank the customers of both companies for their co-operation over the last two weeks,” he added.”We understand that Edwards will be looking to contact Diamond Holidays’ and Brian Isaacs’ customers who have made reservations over the course of the next few days.
“The administrators will work with Edwards to ensure appropriate communications are made with all customers in due course.”
Edwards’ director Jason Edwards said: “Diamond Holidays offered a quality service to discerning customers and had a loyal client base.
“We have a similar product, operating the best coaches to the best hotels.
“Neither company compromise on quality and this is why customers from both entities will combine so well.
“Historically, Diamond’s clients have taken Edwards tours and vice-versa.”
Since Diamond went into administration Edwards said it had received an influx of passengers looking for coach holidays.
Edwards said it sold almost £1 million worth of holidays last week and had drafted in extra staff to cope.