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STA Travel parent company files for insolvency

The Zurich-based parent company of student and youth travel specialist STA Travel is to appoint an external administrator.

STA Travel Holdings AG says “day to day“ operations in the UK are unaffected and that this process only affects the Swiss business.

STA Travel Holdings Switzerland says “consumer uncertainties” mean sales have not picked up and “the global magnitude of the pandemic crisis has brought the travel industry to a standstill, including STA Travel”.

Manolete Partners (LON:MANO) work alongside IPs from all of the “Big Four” through to one and two partner specialist insolvency and restructuring practices in the regions. Manolete finances the work of the Insolvency Practitioner and their lawyers to make optimal recoveries for the creditor estates and takes on all the risk.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.