In a statement, Balkan stressed it had not gone into administration, but had taken a proactive decision to exit the UK market. All forward bookings with the brand have been cancelled.
“The company is solvent, but it has become increasingly difficult to be competitive and profitable in the UK," said managing director Alexander Stoyanov. “I am really sorry to disappoint our loyal customers and the fantastic travel agents who have booked holidays with us for this summer and beyond and have given us so much business over the years."
