Thu, 15 Sep 2011 | ADMINISTRATION
Sussex-based tourism company, Pinnacle Travel, has entered administration, with the owners citing "exceptional circumstances" over the last year as the cause.
The company, which is based in Haywards Heath, is now in the hands of Antony Batty and Stephen Evans of law firm Antony Batty & Co, who have been appointed joint administrators. Some of the assets and goodwill have already been sold to independent specialist tour operator, Visions Holiday Group, and they are now looking to sell the rest.
Pinnacle specialised in operating tailor-made school trips, managing the logistics of sending some 5,500 pupils abroad every year, to Europe, America, Africa and Asia on sports, ski, performing arts and science trips.
It is understood that no trips were abroad at the time of the administration, but the company does have several hundred forward bookings. As an Association of British Travel Agents member, the company was fully licensed and all customers with bookings will be protected.
Managing director, Nigel Parker, said, "We are devastated at the collapse of the company we built up over 13 years to be one of the leading brands in the quality school travel market. However, I’m relieved this happened so early in the school year, which means there are no trips overseas and no young people have been left distressed or stranded."
Visions spokesman, Robert Atkins, said that the purchase of the Pinnacle assets gave them an excellent opportunity to expand their portfolio of travel products.
In a prime location, this freehold business opportunity includes a detached, well-equipped bakery factory along with a retail outlet and cafe, all part of a family business with a century of trading history.
Established in key industries like power generation and rail, this company offers specialised electrical and engineering services across the UK and Ireland, boasting strong relationships with blue-chip clients and a reliable income stream.
This well-established company has a decade-long track record in a growing market and is fully relocatable or can be operated remotely, providing flexibility for the new owner.
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