Failed Gold Crest Holidays owed creditors almost £1m

Coach holiday tour operator Gold Crest Holidays owed almost £1 million to more than 60 creditors when it ceased trading in January.

 

Details of its finances are included in a statement of affairs on the Companies House website, which shows Abta is owed £107,003.

The total owed to 63 creditors is listed as £927,000.

 

Agencies owed money include Advantage Travel Centres, which is owed £1,800, Althams Travel Services £760, Cawthorne Travel £1,850, several Hays Travel divisions a combined total of more than £13,500, Holidays By Design £2,110, Holidays By Design Brigg £5,299, Humberside Airport Travel £7,093, InteleTravel £3,005, Lincolnshire Co-operative Travel £1,134, Midcounties Co-op Travel £4,990, Premier Travel £2,422, Seaside Travel £5,120, South Elmsall Travel £2,203, Travel Empire £2,889 and The Travel Village Group £2,000.

 

Disney specialist Magic Breaks is listed as being owed £62,712.

 

Several other agencies were owed smaller sums.

 

Included on the list is Barclays Security Trustee Limited which is owed £309,203, Barclays Bank plc which is owed £98,157 and Barclaycard owed £33,768.

 

The statement of affairs shows that the company had an estimated £156,648 of assets that could be distributed to creditors.

 

Chris Parkman, managing director of Purnells Licensed Insolvency Practitioners, has been appointed liquidator of the company for its voluntary wind-up.

 

Gold Crest Holidays announced on its website on January 23 that it had ceased trading after more than 30 years in business and had taken steps to enter voluntary liquidation.

 

Its statement said at the time: “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.”

 

The statement from the company based in Ilkley, West Yorkshire, added: “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.”

 

It said all future departures had been cancelled and Abta would handle refunds and assistance.

 

More: Gold Crest Holidays ceases trading after more than 30 years