Begbies administrators appointed at collapsed Goldtrail

Begbies Traynor administrators have been appointed to collapsed travel business Goldtrail, the specialist in Greek and Turkish budget holidays.

Mark Fry and Jamie Taylor take up the appointment and have ceased all flights and trading immediately at the business.

The duo are also working with the Civil Aviation Authority (CAA) and the government backed body Air Travel Organiser's Licensing (ATOL), to help customers abroad return home. According to the CAA 11 travel companies collapsed this year.

Mark Wilson, partner in Baker Tilly's restructuring and recovery department, attributed Goldtrail's demise to a lack of demand for Goldtrail's products.

"Other providers in the more cost effective end of the market would do well to heed by Goldtrail’s demise on how not to run a budget service, or face suffering the same fate,” he said.

The collapse is another blow to ATOL, which protects people from losing money when booking package holidays. The government backed organisation is already £32m in debt The Guardian reports.

City analysts believe the latest travel company collapse will boost profits for the last two large tour operators Thomas Cook and Tiu Travel.

Further reading:

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