Silver Star Holidays enters administration

North Wales coach holiday firm, Silver Star Holidays, has entered administration.

The company, which has been operating out of Caernarfon for 93 years, cited difficult economic conditions for causing the company to cease trading. Administrators are now looking to sell the company's good will and contracts.

Some 1,500 people have current or future bookings with the company, which administrators are looking to refund or allow them to continue through a sale to another coach company. Silver Star is, however, part of a consumer protection scheme, the Bonded Coach Holiday (BCH) scheme, which ensures customers can be refunded if such circumstances occur.

The company's managing director, Elfyn Thomas, said he was "devastated" at the turn of events, and said they were working hard to fulfil the company's obligations to the 890 bookings it had in place at the time of the administration.

"Our main concern at this point is to reassure all our customers who have paid a deposit or the full amount for a coach holiday, that they will be fully refunded," he said.

Twelve jobs were lost when the administration was announced on Thursday. The company takes 12,000 people on holiday every year, on average.