Sunvil buys assets of failed Turkey specialist

Sunvil buys assets of failed Turkey specialist

Sunvil Holidays has acquired assets from failed Turkey specialist Jewel in the Crown Holidays for an undisclosed sum.

The Greece specialist has bought Jewel in the Crown’s name, website and mailing list.

Jewel in the Crown ceased trading on April 1 with no passengers overseas. It had been trading for 29 years.

Sunvil chairman Noel Josephides confirmed the move was a “tactical one”.

“We don’t know what we are going to do with the assets yet,” he said. “We may do nothing at all.

“Jewel in the Crown was a specialist company and we’ve known them for a long time.

“This is very much a tactical move – we did it to stop our competitors getting the assets.

“We wanted these bits and we’ll see what happens.”

Josephides confirmed Sunvil will not set up a new company. Liquidators BM Advisory oversaw the sale.

Partner at the firm, Richard Keley, said there were several interested parties but only three bids received and the assets were sold to the highest bidder on Friday April 8.

The sale was subsequently ratified at the meeting of creditors on April 26.


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