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Jun 3, 200908:36 GMTby News Desk Administrators have revealed that 120 staff of Lancashire-based travel company, Fraser Eagle Group, are unlikely to receive any back pay owed after the
company… Administrators have revealed that 120 staff of Lancashire-based travel company, Fraser Eagle Group, are unlikely to receive any back pay owed after the company collapsed in March.
Accountants Baker Tilly reported that the company, which also included travel agency Fraser Eagle Worldchoice, was £10 million in debt at the time of collapse, almost £6 million of which
is owed to unsecured creditors. The report also revealed that staff, who are owed £100,000 in wages, are unlikely to see any of their money. Although the travel agency side of the business
had held up the group, it had been hit when train companies, which had used Fraser Eagle coaches as a rail replacement service, took the business in house. The report states: “These
services had been the mainstay of the firm’s businesses for some time.” Established as a local coach company in 1919, Fraser Eagle later expanded into the rail replacement, coach and
travel agency sectors.
