Closure of Cyprus and Greece Direct hits at least 100 holidaymakers

At least 100 travellers are affected by announcement that tour operator Cyprus and Greece Direct Ltd ceased trading on August 1.

Panos Eliades Franklin & Co are the proposed liquidators for the North London-based company, which also traded as Ambassador Travel and Absolute Holidays.

Panos Eliades Franklin & Co administrator Ever Loukaides said: “The economic situation had an affect on the business. The whole travel business is in for a rough time.”

The operator, which had a £3m turnover in 2006,  has at least 100 customers already abroad or booked to travel and they are being referred to the Civil Aviation Authority or ABTA. Travellers contacting ABTA should get their claims in by February 1 2009.

A creditors’ meeting will be held next month.

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