A Midlands travel company has rescued the corporate travel division of failed agency Complete World Travel which ceased trading a week ago.

Travel Management Group (TMG) of Leamington Spa acquired the former Advantage member, based in Straford-upon-Avon, for an undisclosed sum yesterday.

TMG non-executive director George Dick said: “We are always on the look out to acquire businesses which fit ours. We are delighted with the acquisition and are contacting the clients of Complete World Travel to let them know TMG will be looking after them.”

Complete World Travel ceased trading on March 18 with the loss of eight jobs. It sold a small number of holidays under its own Atol, but traded primarily as an agent.

Joint administrator Guy Mander of Baker Tilley Restructuring said the company was brought down by a major customer entering administration following a decline in demand over the last two years.

TMG employs a staff of 60 across three offices, selling corporate and leisure travel as well as events, sport and meeting venues. Both TMG founder and chief executive Ian Dunwoody and director George Dick formerly held senior positions at Lunn Poly (Thomson).