CYPRUSand Greece specialist Rendezvous Holidays has gone into liquidation just at the start of the summer.
The London-based operator, which only had 50 people abroad when it collapsed, was believed to have been struggling since the end of last year.
Industry sources said the reason for the company’s failure was that it had tried to expand too fast in a short time. It is believed the firm had tried to grow from around 3,000-4,000 in 1997 to 30,000-40,000 passengers last year. “It was discounting very heavily and sold a lot at a loss to move the volume,” said one source.
Takis Shacalis, former chairman of collapsed company Best Travel, is thought to have been a consultant at Rendezvous.