Somewhere2Stay Limited (02083982): administration
- Status
- Administration ended
- Administration began
- 2017-10-02
- Administrators
- Blair Carnegie Nimmo, James Robert Tucker, Stephen John Absolom
- Administrators' firm
- KPMG
- Formerly
- Monarch Airlines Catering Company Limited; Luton Handling Company Limited; Monarch AIR Travel Limited; Buterise Limited
- Incorporated
- 1986-12-15
- Location
- London
- Industry
- 79120 Tour operator activities
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Parent or group failure
- Competition / price pressure
From the administrators' statement
The Group is owned by a majority shareholder: PJL, via WJL, and a minority shareholder: the PPF. The Group’s business activities centred around three core divisions: the airlines division, the holidays division and the aircraft engineering division.
Monarch Airlines offered scheduled flights to tour operators, travel agents and direct to consumers. It had operated in the UK for 49 years and offered over 7.5 million seats per annum on scheduled flights.
The holidays division sold accommodation and flights through travel agents or direct to consumers as package holidays or as component parts. Operating in the UK for some 57 years, it handled approximately 400,000 passengers per annum.
Administrators' statement of proposals (2017-12-06) · Companies House register