The Holiday Place PLC (01555368): administration
- Status
- Administration ended
- Administration began
- 2019-05-29
- Administrators' firm
- Begbies Traynor
- Formerly
- Reenas Limited; Slogangate Limited
- Incorporated
- 1981-04-08
- Location
- Northampton
- Industry
- 79110 Travel agency activities
Why it went into administration
- Brexit
- Property / lease costs
- Funding withdrawn / unable to refinance
- Weather / natural events
From the administrators' statement
The information beiow has been prepared from a statement provided by the directors and information contained within the Company accounts. We will carry out our own investigations to verify the reasons provided by the directors for the Company's insolvency.
The Company was incorporated on 8 April 1981 and changed its name on 12 August 1981 to Reenas Limited, which was a retail outlet. The business of the Holiday Place previously traded as a partnership and was subsequently transferred to the Company. The incumbent partners Nilesh Gulabchand Shah and, Rajesh Gulabchand Shah, became directors in March 1986 and Reenas Ltd was replaced by The Holiday Place Limited. The Company subsequently became a PLC on 23 July 1998.
The Company traded as a travel operator and operated with both ATOL and ABTA licenses. The Company's primary destination was Cuba, which represented circa 40% of the business. The directors have advised that Cuba is a challenging place to do business. However, the Company built up a strong relationship with the Cuban Tourist Board and had a licence to operate within the country. The Company sold holidays in Cuba directly to the public and acted as an agent for other independent travel agents marketing Cuba as a destination. The Company's other primary destinations were Thailand, Mexico, the Caribbean, India and the
Administrators' statement of proposals (2019-07-17) · Companies House register