Holiday Firm Collapses
August 5th 2011 08:05
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At least 12,000 holidaymakers face a struggle to get home after the collapse of a tour operator specialising in packages and flights to Turkey.
Holidays4UK, an internet operator based in Brighton that also trades as Aegean Flights, stopped trading yesterday with immediate effect and administrators from PwC have been called in to handle its affairs. PwC urged holidaymakers booked on flights not to travel to the airport.
Holidays4UK, which runs about 20 flights a week to Dalaman and Bodrum, gave no hint of cashflow difficulties in its last accounts, filed last month, reporting a pre-tax profit of £326,000 on turnover of £35 million and declaring its performance to be very satisfactory given the difficulties faced by the travel industry in 2010.
Holidaymakers will be covered by the Civil Aviation Authoritys Air Travel Organisers Licence scheme. The CAA will be responsible for the repatriation of those stranded while those who have yet to travel may be entitled to their money back under the ATOL scheme.
The administrator said that 18 staff at Holidays4UK would lose their jobs.
Holidays4UK, an internet operator based in Brighton that also trades as Aegean Flights, stopped trading yesterday with immediate effect and administrators from PwC have been called in to handle its affairs. PwC urged holidaymakers booked on flights not to travel to the airport.
Holidays4UK, which runs about 20 flights a week to Dalaman and Bodrum, gave no hint of cashflow difficulties in its last accounts, filed last month, reporting a pre-tax profit of £326,000 on turnover of £35 million and declaring its performance to be very satisfactory given the difficulties faced by the travel industry in 2010.
Holidaymakers will be covered by the Civil Aviation Authoritys Air Travel Organisers Licence scheme. The CAA will be responsible for the repatriation of those stranded while those who have yet to travel may be entitled to their money back under the ATOL scheme.
The administrator said that 18 staff at Holidays4UK would lose their jobs.
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