Travelsphere is understood to have bought failed tour operator Travelscope.
Travelscope’s administrators has been in talks with several interested parties about selling the business since it collapsed on December 21. The company went into administration to seek refinancing.
Travelsphere is a leading escorted tours operator worldwide and also owns the brands Page & Moy and Just You. Page & Moy is its only trade brand it began selling through agents six months ago.
It is understood to have signed contracts to buy all or part of Travelscope this week. No-one at the company would comment.
All departures up to and including January 13 have been cancelled, affecting 273 passengers, but it is hoped future bookings could be saved.
Administrators Menzies Corporate Restructuring had hoped to announce the completion of the sale of Travelscope this week, as Travel Weekly went to press.
Joint administrator Paul Clark said: “The position regarding holidays planned for after January 13 2008 is still uncertain but we would hope the new owners would be able to preserve existing bookings.”