However, boss Simon Cooper said the group remained well-positioned to ride out the Covid storm, to "capitalise on inevitable structural change in the market" and to "look to the future with confidence".
The group on Thursday (10 December) posted a pre-tax loss of £46.3 million, which includes £41.7 million attributed to the "cost of Covid-19".
It said the loss owed to a "significant reduction in new bookings", cancellations and associated administrative costs.
Total cash, though, as of 30 September was £36.5 million, excluding customer cash of £25.8 million held in trust.
