TTG reported last week that a “notice of administrators’ proposals”, published on Companies House, stated that in early March, “over £700,000 had been misappropriated” from the firm and that the money lost in the alleged “fraud” was a “major issue” in the company’s collapse.
Market Harborough-based Diamond Shortbreak Holidays ceased trading on March 16, resulting in the redundancy of all staff.
The following day, Arena Travel announced the acquisition of The River Cruise Line and Diamond Rail Holidays (an operator) brands, with the latter now rebranded. The Diamond Holidays brand was not taken on.
