UK holiday firm shut down with all trips cancelled amid debt

Chris Parkman, of specialist business firm Purnells, was appointed as the liquidator for Gold Crest Holidays on March 19 after its dramatic collapse.

Statement of affairs submitted to Companies House reveal that firm had around £156k worth of assets that could be distributed to creditors.

But there is still a shortfall for those owed money as it’s not enough to cover the estimated £452k deficiency, the books show.

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Gold Crest Holidays has a total of 63 creditors listed on the files, in total all being owed £927k – although this is an estimation and may not reflect the exact amount.

Included on the list is Barclays Security Trustee Limited which is owed £309k, Barclays Bank pic which is owed £98k and Barclaycard owed £33k.

ABTA, the leading association of travel agents and tour operators which provides expert travel advice, guidance, protection, is owed around £107k.

(Image: Press Association)

Ten employees have preferential claims totaling almost £10k.

Gold Crest Holidays specialised in coach packages to Disneyland Paris, European city breaks and major sporting events, as well as UK short breaks and themed holidays.

It entered voluntary liquidation after more than 30 years having ceased trading on January 23.

A statement from the business said: “This difficult decision follows the severe impact of the COVID-19 pandemic, strategic changes in key partner arrangements that adversely affected our business, and a challenging trading environment with significantly rising costs.

“We are immensely grateful to our loyal customers, travel agents, suppliers, and dedicated staff for your support over the years. We are truly sorry we can no longer continue.

“We apologise for any disappointment or inconvenience caused. ABTA will provide clear support to affected customers.”