AIR Express Travel & Tours (UK) Limited (05268708): administration
- Status
- Administration ended
- Administration began
- 2017-11-06
- Administrators' firm
- Evelyn Partners
- Incorporated
- 2004-10-25
- Location
- London
- Industry
- 79110 Travel agency activities
Why it went into administration
- Over-expansion / investment not recovered
- Cash flow / liquidity pressure
- Property / lease costs
From the administrators' statement
Mr Hannan and a third party set up a travel agency partnership in February 1993. As the business grew the partners decided to expand operations into a retail premise and at this time the business also acquired an ATOL licence.
In 2001, the partners decided to go their separate ways and Mr Hannan decided to take the business forward on his own. Shortly thereafter Mr Hannan decided to invite his son - Mohammed Muzirul Haque - to join the family business. Mr Haque decided to obtain accreditation from IATA to move the business forward.
In 2004, the business was incorporated into a limited entity, with Mr Hannan and Mr Haque being appointed as directors.
Administrators' statement of proposals (2018-01-24) · Companies House register