Unpackaged Holidays in administration
Its subsidiary, Seligo, the agent-only accommodation specialist, has been sold to The Travel Club.
Travel Insurance News - 19/03/2009
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The Travel Club submitted the only firm offer for the assets of Unpackaged Holidays.
All forward bookings on which deposits were made before Shipleys were appointed as administrators will be honoured by The Travel Club. In addition, most of Seligo’s employees will be able to keep their jobs.
A statement released by Shipleys indicated that the Birmingham-based travel company experienced significant difficulties when the market shifted from "dynamic" packing to the more traditional forms of holiday packages and as the pound continued to weaken against both the euro and the US dollar.
“The difficulties facing the travel industry at this time are well documented and, with a reduced margin in forward bookings and the current economic conditions the company was unable to secure further funding,” Shipleys said in a statement.
Conrad Beighton, the Shipleys corporate recovery director and Unpackaged Holidays joint administrator, said: “Given the current economic situation, the competitiveness within the industry and the lack of gross margin in the company's forward bookings, the business had a minimal value and this was reflected in the level of interest from potential purchasers.”
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