Accommodation-only specialist Apartments Abroad ceased trading yesterday and was placed into liquidation this morning.
A statement on its website said: “It is with deep regret that Apartments Abroad Limited has ceased to trade as of 21 January 2010 and shall be placed into liquidation shortly.”
The Stoke-based travel company, which sold mainly through the trade, fell into liquidation despite last-minute efforts to sell the business.
Apartments Abroad managing director Ian Thirlwall said: “Despite the strenuous efforts of the company and its advisers it has unfortunately not been possible to continue trading. It is deeply upsetting as we had come exceptionally close to selling the business as a going concern before Christmas.
“When that fell at the last hurdle, a subsequent promise of support for our cashflow then also failed to materialise. Despite that blow, we and our advisers continued to explore avenues to save Apartments Abroad and right up until today were negotiating a possible sale. Sadly this could not be achieved and with great regret we ceased trading.”
Customers should be able to complete their holildays as planned, he said.
“As Apartments Abroad was almost exclusively a trade wholesaler and because we were committed to pre-paying suppliers prior to departure we expect the impact upon consumers to be minimal.
“I would like to express my gratitude to all those in the trade, at home and overseas, who have supported Apartments Abroad for the best part of two decades. Their support, which I trust they felt we reciprocated, was always much appreciated.”
Any enquiries should be directed to Begbies Traynor at stoke@begbies-traynor.com