Discover Travel & Tours Intl Ltd (07462745): administration
- Status
- Administration ended
- Administration began
- 2015-02-20
- Administrators' firm
- Smart Insolvency Solutions
- Incorporated
- 2010-12-07
- Location
- Worcester
- Industry
- 79110 Travel agency activities
Why it went into administration
- Competition / price pressure
- Funding withdrawn / unable to refinance
- Management failings / irregularities
- Weather / natural events
From the administrators' statement
N toa
The company was incorporated on 7th December 2010 to purchase the business and assets of a predecessor company by way of a pre-pack Administration It traded from International House, Pierpoint Street, Worcester, WRI 1YD The sole director of the company, Andrew Grieve was also director and shateholder of the previous company
The company provided bespoke and pre-packaged holidays in the UK predominantly on a ‘business to business’ basts on behalf of foreign agencies By way of example. the company would organise itineraries for prospective travellers, to include hotels and all ‘on the ground’ logistics The basis of the trading arrangement was that the company was paid by the overseas agents once the holiday had taken place and at this point, would in turn pay the UK supplicrs A small number of bookings were made directly with the company and in this case, 11 was the company’s policy to pay the hotels ot suppliers immediately it received the funds from the customer
Administrators' statement of proposals (2015-05-06) · Companies House register