Classic was sold to On the Beach Group in August 2018 for around £20 million. However, the OTA on Wednesday (24 September) said it would begin "winding down" the brand with immediate effect to place the group's full focus on its B2C operation.
The operator will take no further bookings, but will continue to support agents with any existing bookings. A total of 26 Classic Collection colleagues will now enter into collective consultation with the group.
Munday was Classic's owner and managing director when the brand was sold to On the Beach; he stepped back from the business a year later in September 2019 when the OTA's chief international officer Oliver Garner took the reins as chief executive.
"I was disappointed to read Classic Collection Holidays has ceased trading after 37 years," Munday told TTG. "It's very sad for the hundreds of people who worked tirelessly and skilfully to make it the multi-award-winning luxury brand it became. Many travel agents and hotel partners who supported Classic Collection Holidays will also be sorry to hear the news.
Having retired from the industry several years ago, I no longer have any connection with On the Beach, so cannot comment on their decision. But I would like to take the opportunity to thank all my former colleagues, as well as the travel partners who supported us, for their passion and the commitment they brought to the business."
