Super Break’s administrators have accepted an offer for the failed company’s assets – but will not reveal the buyer until the deal has been completed.
The short-break specialist collapsed on 1 August along with sister company LateRooms.com after attempts to sell the business could not be finalised in time to save them.
Both companies were part of the Malvern Group, which was 49% owned by Cox & Kings India.
Following the collapse, administrators from KPMG restarted the bidding process by approaching 159 potential buyers, including several parties who were interested in taking over the company.
KPMG, in its administration report, said it had received a total of eight offers for Super Break either as a standalone company or alongside other assets owned by Malvern.
“We have accepted an offer for the company’s [Superbreak Mini-Holidays] assets on a standalone basis,” said KPMG.
The transaction had not been completed and a spokesperson declined to name the successful bidder.
Meanwhile, Abta has said “a number” of claims for refunds on Super Break packages, booked through agents, have not yet been settled due to issues around submitting the correct documents.
“These claims have not been settled as our claims handling agent has had to query them due to incorrect or incomplete documentation being provided,” an Abta spokesperson told TTG.
“In many cases, this incomplete documentation includes proof of payment from the agent to Super Break. Once the correct documentation has been received, these claims will be processed for settlement.”
Super Break collapsed owing creditors £49.8 million, including nearly £4 million in trade debts to 900 suppliers – mostly hotels.
The largest trade creditors are Jumbo Tours (£242,000), rail franchise LNER (£190,000) and IT firm Servatech (£170,000).
Earlier this month, Secret Escapes acquired some of LateRooms’ assets and intellectual property for £750,000.