In an emotional statement posted to the firm’s website, Travel Wright said it intends to close the business in early April.

"We are looking to retire and have accordingly been looking for a buyer such that the business could continue as a going concern but unfortunately this has not happened," the letter continued.

"It has been a difficult decision to make and will be a very sad day for our family, our staff and we are sure our customers too," signing off the note personally from David, Colin and Paula.

A final decision on the future of the company, which was launched as Wright & Sons in 1926, is set to be announced on or around 18 February.

The firm, which operates around 30 buses and coaches, said it will continue to support its staff members and thanked them for their loyalty, and urged the public to take "a last outing to the seaside" or to book a coach for a day out.

The business remains solvent and the company will honour all bookings, including day excursions, holidays, services, private hire and contracts up to and including 3 April, as well as a trip to London’s West End to see Wicked on 6 April.

Customers with a Travel Wright voucher have been encouraged to use it before the end of March and those with a private hire who have bookings beyond 3 April will be contacted in the coming weeks.

"We would like to extend a huge thank to our excursion and holiday passengers, schools, private hire customers and businesses, indeed all who have supported us over the years; it will be a very sad day and we trust you will agree the end of an era in Newark," the note concluded.