The owner of independent agency Toucan Travel has spoken of his “absolute regret” about having to close the business due to the impact of Covid-19.
Independent travel agency Toucan Travel, which operated seven shops in Berkshire and Hampshire, ceased trading earlier this week after being in business since 1982.
Toucan Travel managing director Terry Thornhill said the Covid-19 crisis had forced them to “make the toughest decision of our lives”.
“The outstanding service provided over the years, together with careful financial management has enabled us to weather many an economic storm, but the impacts of Covid-19 on travel is unprecedented and worse still, is the uncertainty of how long this situation will last,” said Thornhill.
“We have taken action to minimise this impact over the last seven months in the hope that we would be able to resume more normal trading at some point in the future.
“However, as the situation continues, cash reserves have become depleted, there is only a relatively small amount of new business being generated and low levels of current travel taking place, therefore the business simply cannot continue to trade under current circumstances.”
Thornhill added that he was confident “the industry will bounce back” after the crisis is over.
Reading-based KRE Corporate Recovery, which is acting as Toucan’s administrator, is putting the company’s business and assets up for sale.