Usa covid-19 business Usa

Liquidators appointed to four USIT travel group firms

Reading now: 143
www.rte.ie

Provisional liquidators have been appointed to four companies in the USIT student travel group, after the Covid-19 crisis caused their collapse.

The companies employed 149 people. The High Court was told that many spring and summer travel bookings as well as tours for students and school groups have been cancelled and new bookings have collapsed.

Senior Counsel Rossa Fanning said this caused a cash flow crisis leaving the companies insolvent and unable to pay their debts.

The companies had received booking deposits and pre-payments from a large number of customers. Around €1.2m is owed to pre-booked customers, including around 3,000 students who paid deposits of €300 or more for travel to the US this summer.

Read more on rte.ie
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA