Sat, 08 Mar 2014 | ADMINISTRATION
On Holiday Group Limited (OHG) has been placed into administration, with future bookings to the value of £19 million.
The bed bank and online retailer had been in discussions with another bed bank to take over OHG’s bookings, however the talks broke down earlier this week – Thursday 6 March.
The move would have enabled a transition and smooth continuation of services for its customers and the group’s travel agency partners, OHG chief executive Steve Endacott said.
“Unfortunately, the deal floundered last night because of deliberate and inaccurate leaks to the Spanish press along with legal complexities relating to the client account,” he added.
The matter of a lost battle with HMRC over £4.5 million of disputed Toms VAT, has seen its subsidiary OHG Accommodation also pushed into administration.
Creditors to the group, mainly overseas hotels, face unpaid debts of at least £7 million.
The, as yet unidentified, administrators’ task will be to find a buyer for the business in the next few weeks, or the 65 staff face losing their jobs.
Established in 2003 by Mr Endacott, the OHG – a member of the Midcounties Co-operative consortia - included the hotel booking site Holiday Nights, Fresh Holidays, 118 Travel, PortAventura Holidays and flightandhotel.co.uk, as well as Spanish hotel booking website reserva123.com. The websites are still trading, reports say.
Affected customers will have to pay for bills in the resort and claim refunds from agents.
____________________________________________________________________
Related information:
Companies in administration
Now is the time to buy a business
This high-class restaurant in South Yorkshire is a rare opportunity, featuring a prime city-centre location and a vibrant, elegantly designed interior.
LEASEHOLD
This well-established stoves and cookers business in East Sussex offers a tastefully organised setting with spacious showrooms, a large office, and nearby warehousing featuring excellent facilities like a forklift.
LEASEHOLD
This well-established mechanical, plumbing, and electrical contracting and maintenance business boasts an exceptional reputation, having operated for around 50 years with a focus on the education and health sectors.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.