BusinessBusiness RecoveryHoliday company sold out of administration

Holiday company sold out of administration

DTE director Paul Masters sells holiday company Ian Mearns Ltd out of administration  

A tour operator providing camping and caravan holidays has been sold out of
administration in a cross-border deal.

Administrator Paul Masters sold the company, Ian Mearns Limited, to
Dutch-based European holiday business Vacansoleil.

Ian Mearns was founded 21 years ago and employed 22 staff, however, it
experienced trading difficulties due to changing trends in the travel sector,
where holidaymakers are choosing to take budget flights over car ferries,
according to Masters.

‘Directors of smaller tour operators should ensure that they have sufficient
reserves to carry them through the lean winter months. If they are in any doubt
they should, at the very least, ensure that customer deposits taken for 2007
holidays are banked in a separate trust account,’ said Masters.

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