Managing director Andrew Lee described the last two years of trading as “challenging”.
And he said problems have considerably grown in 2015 as both the terrorist shooting of 38 tourists near Sousse in Tunisia and the ongoing fight against Isis in neighbouring Syria and Iraq put potential tourists off travelling to the country.
Lee said: “It’s no secret that 2015 has been one of the toughest years to date for tourism in Turkey, largely due to the country’s geo-political situation. This comes on the back of two challenging years of trading.
“Despite this, Exclusive Escapes performed well compared to the general market, but the two months following the atrocity in Tunisia, and then Turkey joining the coalition against Isis together with ensuing events, have had a considerable impact on the market which have sadly proved unmanageable.”
Lee also spoke about the impact the company’s demise will have not just on customers, but also its staff and the many suppliers the company has used over the years.
He added: “Our immediate thoughts and sympathies lie with the many loyal guests, wonderful hoteliers, property owners and suppliers who are affected, in addition to our unfailingly loyal team both in Turkey and the UK.
“Consumers with advance bookings are able to claim a refund under the ATOL scheme, or from their credit card issuers.
“We are also working with the CAA to ensure those in Turkey continue to enjoy their vacation over the next two weeks and that the necessary flight arrangements are in place for them to return.
“We are encouraging guests looking to re-book over the next few weeks to get in touch with our properties directly, so as not to forgo the style of holiday which they have come to expect.”
He added Exclusive Escapes, which also traded as Hidden Turkey, has around 375 guests currently in Turkey and approximately 1700 passengers were scheduled to travel.
For the year ending October 31, 2014, records show that it generated £10.8 million in turnover.
