STA offers some respite for Usit Campus
Collapsed travel company Usit Campus has today been rescued it from total liquidation by fellow youth travel specialists STA Travel.
But the company is not entirely out of the woods yet.
After negotiations with administrative receivers at Begbies Traynor, STA – a wholly owned subsidiary of Zurich-based Diethelm Keller Holding – said it had only bought some of the assets of Usit Campus.
These assets include some IT software, web content, and other equipment from the beleaguered company. The deal also includes an agreement from the receivers to facilitate discussions with certain Usit Campus landlords.