Courtney Airsavers Limited (04003564): administration
- Status
- Administration ended
- Administration began
- 2020-11-05
- Administrators' firm
- FRP Advisory
- Formerly
- Spraymist Limited
- Incorporated
- 2000-05-30
- Location
- Gosforth
- Industry
- 79110 Travel agency activities
Why it went into administration
- COVID-19
- Cash flow / liquidity pressure
From the administrators' statement
It became evident to the directors during 2020 that the far-reaching impact of COVID19 would have a significant impact upon individuals’ aptitude for travel and also their ability to travel due to the difficult and varied conditions across the globe.
Additional restrictions were in place as the result of government guidance and restrictions both here and internationally created considerable uncertainty, a situation that was changing almost daily.
The business was faced with holidays being cancelled by consumers but also by holiday companies and airlines as international restrictions prevented travel. This resulted in significant extra work being undertaken (for no additional benefit/income) to cancel, re-book and suspend travel arrangements at a time where income and cashflow was under pressure.
Administrators' statement of proposals (2020-12-30) · Companies House register