The former owner of Travelscope, a Gloucester-based travel company that collapsed last year, has been declared bankrupt.
Travelscope run by Richard Ford was forced to close last Christmas with the loss of 270 jobs and the cancellation of 45,000 holidays.
In a hearing before Gloucester County Court on 16 October Mr Ford was declared bankrupt over personal guarantees, totalling almost £1m, he made to the company.
Mr Ford said that the previously successful company had been hit by a ‘ perfect storm’ of events which had caused chronic cash flow problems.
He identified these as disruption caused by the firm’s relocation increases in fuel prices and agents commissions drop off in bookings following an ocean cruise passenger health scare and the failure of a foreign river cruise operator.
After the bankruptcy hearing Mr Ford said he had now lost everything including his home.