Almost 400 jobs have been lost after a coach company collapsed into administration.
Bowen Travel Group, based in Derby Road, Loughborough, ceased trading yesterday and axed 393 of its 448 staff.
Administrators Deloitte said a slump in the leisure sector had led to a "serious cashflow crisis".
A skeleton staff of 55 employees will continue to carry out operations for the time being.
The group comprises of six firms: Bowen Travel; LF Bowen; Jeffs Coaches; York (Bros) Northampton; Bowen Travel Transport and Woottens Luxury Travel.
Deloitte said customers with bookings would be contacted.
Bowen Travel Group, based in Derby Road, Loughborough, ceased trading yesterday and axed 393 of its 448 staff.
Administrators Deloitte said a slump in the leisure sector had led to a "serious cashflow crisis".
A skeleton staff of 55 employees will continue to carry out operations for the time being.
The group comprises of six firms: Bowen Travel; LF Bowen; Jeffs Coaches; York (Bros) Northampton; Bowen Travel Transport and Woottens Luxury Travel.
Deloitte said customers with bookings would be contacted.
