Steve Absolom and Will Wright from KPMG’s Restructuring practice were appointed Joint Administrators to luxury travel business Jacada Travel on Wednesday 27 May 2020
Steve Absolom and Will Wright from KPMG’s Restructuring practice were appointed Joint Administrators to luxury travel business Jacada Travel on Wednesday 27 May 2020.
Founded in London in 2007 and employing 52 members of staff, Jacada Travel specialises in responsible luxury holidays to destinations around the world, to a predominantly US customer base.
Immediately following their appointment, the joint administrators sold certain assets of the company to Wilderness Safaris, the luxury safari tour operator and one of the largest ecotourism companies in the world.
Wilderness will contact all Jacada customers that have an existing holiday booking to discuss taking these bookings forward. Customers are advised to visit www.jacadatravel.com/update-faqs for more information.
Unfortunately, the agreement does not include the transfer of employees and so it is with regret that all members of staff have been made redundant. The joint administrators are providing staff with all available support.
Steve Absolom, partner at KPMG and joint administrator: “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.”
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