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Fox to the rescue

11th October 1990
Page 19
Page 19, 11th October 1990 — Fox to the rescue
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Which of the following most accurately describes the problem?

• Drawlane subsidiary Midland Fox has mounted a rescue package to bring home holidaymakers who have been stranded by the collapse of Rugeley-based coach operator Antler Holidays.

As a goodwill gesture, Midland Fox subsidiaries Fairtax, Shelton Orsborn and Tellings have brought back passengers from the Continent.

Antler has gone into liquidation with debts of more than 2250,000 and all 18 of its coaches have been repossessed. One of the company's coaches was seized at Lucerne in Switzerland after the company failed to pay hotel bills.

None of its holidays was bonded and it is estimated that up to 2,500 prospective holidaymakers could lose their money.

Antler has more than 3,000 creditors, mainly hoteliers, according to the Birminghambased accountants Poppleton and Appleby.