Railbookers Limited (04517531): administration
- Status
- Administration ended
- Administration began
- 2016-03-04
- Incorporated
- 2002-08-22
- Location
- Southampton
- Industry
- 79120 Tour operator activities
Why it went into administration
- Bad debts / customer insolvency
From the administrators' statement
The Company was incorporated on 22 August 2002 and its core services were that of a tour operator, offering bespoke holidays by rail in Europe and the Rest of the World by creating tallor made itineraries through an online presence The Company's largest market was the UK although tt also had subsidiaries in Australia and New Zealand and an associated company In North America
The directors and shareholders provided financial support to the Company supplemented by an overdraft provided by National Westminster Bank pic Additionally, in order to mitigate exposure to foreign exchange rate fluctuations and to assist with foreign payment requirements, the Company drew on external foreign exchange providers on short term credit
Details on the events leading up to the appointment of administrators was provided in our Statement of Insolvency Practice 16 (‘SIP16') report — issued to all known creditors on 11 March 2016 — a further copy of which is set out as Appendix A As explained in that report we sold the assets and undertaking to Yankee Leisure Group Limited (‘the Purchaser) on 4 March 2016 for £157,088 from which we agreed to pay the salaries arrears of £46,615 and give credit for a payment of £16,825 to the internet provider in order to restore the website which the internet provider had taken down for non-payment
Administrators' statement of proposals (2016-04-08) · Companies House register