Luxury operator Jacada Travel has collapsed into administration, with KPMG appointed to handle the business’s affairs.
The company, founded in London in 2007, employed 52 members of staff and sold to a predominantly US customer base.
KPMG’s restructuring practice was appointed on Wednesday (27 May) with certain assets of the company sold to Wilderness Safaris.
Wilderness will contact all Jacada customers who have an existing holiday booking to discuss taking these bookings forward. Customers are advised to visit jacadatravel.com/update-faqs for more information.
The agreement does not include the transfer of employees, with all members of staff made redundant.
Steve Absolom, partner at KPMG and joint administrator, said: “The impact of the Covid-19 pandemic on the global travel industry has been seismic, and in common with operators large and small, the impact of a sudden loss of income on the company’s cash position soon became unsustainable.
“We are pleased to have been able to conclude a transaction with Wilderness, providing some continuity for those customers who had future bookings with Jacada.
“However, we understand this will be a difficult time for Jacada’s employees, and we will be working with them over the coming days and weeks to provide them with any and all support they need.”