Fri, 12 Mar 2021 | ADMINISTRATION
Prominent corporate travel management company Baxter Hoare Travel has ceased trading due to the impact of the COVID-19 pandemic. The London Bridge-based business has a history dating back to the 1880s and specialised in business travel, working with clients including a range of private companies, government departments and NGOs.
Current owner Adam White had acquired the company twice, firstly working on behalf of Bath Business Travel in 2008, before completing a buy-out in 2010. Since then, the company has completed a series of acquisitions, including travel management firm Pressplan Travel in 2011, corporate travel agent Holborn Travel in 2012 and the UK arm of German group Dertour in 2013.
The company was a member of the Business Travel Association (BTA) and a founding member of both the Focus Travel Partnership (of which Adam White was on the board) and Advantage Travel Centres.
Discussing the company’s collapse amid COVID-19, Adam White said: “We’ve been fighting and trying to make a fist of it, but we couldn’t continue to go on. A lot of other travel companies are running out of air. I fear there will be more failures if the government doesn’t open air corridors soon.”
The continuing disruption caused to both business and leisure travel by COVID-19, which looks set to continue for much of the remainder of 2021, has seen many companies enter administration or be acquired by bigger operators.
Clive Wratten, Chief Executive of the BTA, said: “The BTA is very sad to see Baxter Hoare go into administration. This is a brutal example of the ravages COVID-19 is wreaking on our industry. The company has spent more than a century meeting the needs of the business traveller. The industry and their clients will sorely miss its expertise and service.”
In its last available accounts, to the year ending October 31 2019, Baxter Hoare had fixed assets of £202,773 and current assets of £925,735. The company owed creditors £656,108 within one year, leaving the company with total capital of £472,400 at the time.
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