Diamond Coaches, based in Swansea, went under last Friday, leaving a number of passengers who had booked reservations for day trips unsure if they would be receiving refunds. Those who have made package holiday booking with the company have already been promised that they will get their money back.

A few undisclosed parties are reported to have expressed interest in buying out Diamond Coaches, and it has been confirmed that administrators involved in the case are seeking to negotiate deals with other coach companies (one, Edwards Coaches, has been named) in Wales in an attempt to save the stricken company.

If a deal is made, it means good news for day trip customers who have lost money in the collapse – however, if a new owner is found for Diamond, they would first be required to pay back creditors before it would be able to refund any existing customers who have suffered monetary loss as a result.

The news of the collapse comes after an otherwise successful trading period of nearly 60 years operating in Wales and handled around 80,000 travellers annually. Prior to the announcement on Friday, Diamond Coaches pulled in an annual revenue of just under £11 million and employed 96 members of staff. The company incorporated Brian Isaac Coaches ltd.

PriceweaterhouseCoopers (PwC) are handling the administration process, and day trip customers will be notified of any developments and news of reimbursement as negotiations move forward.

Reported by Sam Doving.

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