Two companies owned by the Online Travel Group which went into administration on 25 September have been sold – although no details of price have been released.
World Travellers UK, a member of Freedom Travel Group, has been sold to World Ski & Travel.
Online Travel Group insurance assets have been sold to Online Travel Insurance Services regulated by the FSA. Included in the sale is the insurance book, agency agreements and trading brands Onlinetravelcover, Cheap4travelcover, and Skicover.
Administrator Neil Bennett of Leonard Curtis said: “We have concluded both these sales as the most advantageous to clients and creditors of these businesses.
“In order to maximise their value we believe it was essential to complete the transfer as soon as possible, particularly in view of the current credit crunch.
“Online Travel operated a number of travel websites. Not included in either sale is the ferry booking business for which we are currently operating a help line – 0870 423 3030.
“Clients who have already travelled are unaffected, however those who have yet to take up their booking may wish to contact this number before they travel.”
The company, originally launched in 1999 had a turnover of £7.7 million for the year to March 2007, up £2.5 million from the previous financial year.
This is a community-moderated forum.
All post are the individual views of the respective commenter and are not the expressed views of Travel Weekly.
By posting your comments you agree to accept our Terms & Conditions.