Travelzest has been given an extra month’s breathing space to repay a loan to Barclays Bank.
The specialist operating group with interests in the UK and Canada announced this morning that the bank had agreed to a further deferral of the capital repayment of £650,000 and C$2.6 million until November 30.
The loan and associated interest, dating back from June 2008, was originally due to be repaid on May 31.
Travelzest negotiated a delay until October 31 and this has now been further deferred until the end of this month.
The group announced in September that it had received a possible takeover offer by Canadian company red Label Vacations.
An extended deadline of November 14 was set for a firm bid to be made but no further developments have yet emerged.