Jacada Travel Ltd (06328668): administration
- Status
- Administration ended
- Administration began
- 2020-05-27
- Administrators
- Stephen John Absolom, William James Wright
- Administrators' firm
- KPMG
- Formerly
- Jacareda Travel Ltd
- Incorporated
- 2007-07-30
- Location
- London
- Industry
- 79110 Travel agency activities
Why it went into administration
- Sustained trading losses
- COVID-19
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
The Company was a. luxury tour reperator, offering bespoke holidays to destinations around the world.
The Company was founded in 2007 by Alex Malcolm (the ‘Director’), who is the sole shareholder and statutory director. The Company has two fully owned subsidiaries, a South African entity that operated as a Destination Management Company in the region, and a US entity which collected insurance policy referral commissions. They are both in the process of being wound up by the Director; who is also director of those companies.
The Company employed 50 people in the UK at the date of entering administration. All staff were made redundant on appointment of the Joint Administrators.
Administrators' statement of proposals (2020-06-18) · Companies House register