Landround, the Chester-based promotions company, may have to dispose of some or all of its businesses due to the financial pressure created by a long-running billing dispute with a major customer.
Landround's dispute with a "buy and fly!" rewards programme customer is not expected to be settled soon. As a result, the company expects to report a £550k loss at its next interim results announcement.
The group is also in discussion with banker HSBC about its future banking options.
Landround's businesses include Landround Marketing Limited, Landround Travel Limited, Travel Offers Limited, buy and fly! Limited, White Label Rewards Limited, Travel Rewards AB Limited and Landround Deutschland GmbH.
The "buy and fly!" programme is a points-based system which offers a wide selection of travel and leisure based rewards.
Another business, Discover, is a travel and leisure based promotions business also operated by Landround. Discover offers bespoke promotions for companies and free flights or holiday vouchers.
Established in 1992, Landround was primarily based in the UK and has since extended to Ireland and Spain. The business works with Thomson Holidays, Virgin Holidays, DFDS Seaways, P&O, SeaFrance and Irish Ferries among others.
