Harris Holidays Limited (02454681): administration
- Status
- Administration ended
- Administration began
- 2020-08-04
- Incorporated
- 1989-12-21
- Location
- Southampton
- Industry
- 79110 Travel agency activities
Why it went into administration
- COVID-19
- Regulatory change or action
- Funding withdrawn / unable to refinance
- Weather / natural events
From the administrators' statement
The Company was incorporated in 1989 and operated under the Ski Weekends brand for the past 20 years, providing bespoke ski and snowboard holidays to destinations in Europe - principally France. Customers typically travelled between December and April. The Company was licenced by ABTA and is a member of ATOL.
The Company‘s financial statements disclosed that the Company had net assets of £95k and £37k as at 30 April 2018 and 2019 respectively. The Company reported revenues of £4.382m and profit £44k in the year to 30 April 2018 and revenue of £4.914m with a loss of £57k in the year to 30 April 2019.
The measures put in place by governments in the UK and Europe from February 2020 as a result of the Coronavirus pandemic had a devastating effect on the Company. Customers who had booked trips in the Spring were unable to travel and requested refunds / credit notes. The Company forecasted revenue for the year to 30 April 2020 in the region of £4.2m to £4.6m, however, while revenue to January 2020 was broadly as expected, revenue for February and March 2020 was less than expected and was effectively nil in April 2020 resulting in an estimated total revenue of £3.2m for the year to 30 April 2020 and an estimated loss of £500k.
Administrators' statement of proposals (2020-09-21) · Companies House register