The founder of Travelzest’s business travel arm Fair’s Fare has severed all connections with the company.
The announcement by chief executive Ranjit Anand follows Travelzest revealing plans in January to dispose of most of its UK travel-related businesses.
In a statement Anand said he made an offer along the lines of an MBO, with a view to “saving and perpetuating the business” going forward.
“Sadly various deadlines were not met by the vendors and Ranjit had no option but to withdraw from all negotiations at close of business on March 30,” the statement said.
He resigned on Friday as a director of London-based Advantage Focus Partnership member Fair’s Fare, which he has been involved with since 1994.
Anand, who founded Expotel back in 1971, has now ended a 41-year career with the travel industry. He said he intended “to pursue personal interests entirely unconnected to the travel industry”.
Anand added that he wanted to offer “grateful thanks to all of the wonderful staff that have been associated with Fair’s Fare down the years”.