THE NUMBER of agents going out of business has nearly
quadrupled since September 11 compared to the same time last year.
ABTA said 15 agencies have filed for bankruptcy
following the terrorist attacks in the US, compared to four during the same two
months in 2000.
Chief executive Ian Reynolds said: “It is a shame that
so many travel agents are going out of business but we are comparing a very
good 2000 with a bad year this year.
“We think there will be more failures because of the
reduced cash flow and if our members are able to keep going until the new year
we hope to see bookings return by
January.” However, he said this does not compare to
1991, when 120 agencies went out of business because of a combination of the
recession and the Gulf War.
In the last week four travel agents have ceased
trading.
Astley Bridge Travel in Bolton has gone into
liquidation, Storrington-based West Sussex Travel ceased trading on November 2,
unable to meet payments, Bournemouth-based Excelsior World Travel has gone
bankrupt, unable to meet payments and Excelsior Holidays has also ceased
trading.
Five ABTA tour operators have also failed since
September 11.
They are: Keystone Leisure, Lawson Interline Travel,
Sunrise Holidays, Amos James Associates and Special Places Travel.
ABTA is advising agents having difficulty with their
business rates to contact their local authority, which may be able to offer
relief of up to 100%. It is also urging tour operators eligible for a loan to
apply to the Small Firms Loan Guarantee Scheme. The association has written to
the Department for Transport, Local Government and the Regions asking for help
with the cost of insurance bills.
ABTA has also called on the Government to review Air Passenger
Duty and to put some of the money back into the industry.