Spanish luxury villa firm collapses

Spanish luxury villa firm collapses

A holiday firm specialising in luxury villa rentals in Ibiza, Majorca and Formentera has collapsed at the start of the peak summer season.

Families arrived on the island of Ibiza to find their holiday plans ruined after Essex-based International Villas stopped trading at the weekend having gone into voluntary liquidation.

The company’s website confirmed that International Villas had ceased trading and a rescue package was being worked on.

A further update will be provided before close of business today (Thursday), according to a message on the site from Birmingham-based insolvency specialists Sharma & Co.

Roberto San Esteban, president of an Ibiza-based holiday lets' association called AVAT which represents more than half a dozen companies, told the Daily Mail that three British families were among five groups that contacted members on Saturday after flying to the island to find they had nowhere to stay.

“My understanding is five rentals groups, including three which were British, contacted members to try to find a solution after finding they had nowhere to stay when they arrived on Saturday for what they thought was going to be a dream holiday,” he said

“It's the height of the tourist season and solutions as far as I know were only found in two of the cases.

“Members have also taken calls from groups that are due to arrive next weekend and are looking for a last-minute alternative.

“Some of the homeowners that cooperate with us say they've only received 30% of their full payment or a week instead of two and they're not prepared to let holidaymakers in unless they receive what they're owed.

“We're helping out where we can. But in cases where International Villas were managing a property on an exclusive basis it's impossible sometimes to track down the homeowner so we can attempt to reach a solution.”


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