The UK arm of Cox & Kings is reported to be seeking new investors amid a funding crisis at its Indian namesake company.
Cox & Kings UK has appointed corporate financiers from KPMG to identify buyers for a stake in the business, Sky News reported
The operator, which specialises in luxury tours and holidays in destinations in Africa, Asia and Europe, is believed to be in discussions with several parties, including private equity firms, about a deal.
Cox & Kings employs about 80 people in the UK.
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A company spokesperson told the news outlet: “Having successfully achieved an extension of its licence from the CAA, Cox & Kings UK is now actively seeking an investment partner with whom we can take the business forward.
“Advisors from KPMG have been appointed to assist us with this process.
“We are proud to have a strong brand here in the UK, something which has been reflected by the interest and enthusiasm we have seen from potential buyers so far.”
The search for new backers follows the emergence of financial difficulties at Cox & Kings (India), which defaulted on loan repayments in June.
The Indian company was a large shareholder in Malvern Group, the owner of Super Break and LateRooms.com, which collapsed into administration in August.
Those assets have since been sold.
Cox & Kings retains its stock exchange listing in India, although its shares slumped on Thursday, giving the company a market value of less than £3 million.
