Online luxury travel group Travesse Lifestyle has been placed into administration until a new owner is found.
Duff & Phelps have been appointed joint administrators of the London-based specialist.
Andrew Stoneman, joint administrator, said: "We have been running an extensive marketing campaign over the past 10 days with a view to selling the business and assets of the company.
"It is with regret that we have not been able to do this within the tight fiscal position the company is in. Therefore the decision was taken to put Travesse Lifestyle Limited into administration whilst we continue the search for a new owner."
He said a number of interested parties have stepped forward and discussions continue, but urged anyone else with an interest in the luxury travel sector to get in contact as soon as possible.
Previously known as Flash Sales Ltd, Travesse Lifestyle Ltd owns the exclusive, members-only luxury travel site www.travesse.com in the UK, as well as www.thetraveleditor.com, a source for travel-specific editorial content.
The company operates in the US with Perfect Escapes and its portfolio also includes the private-sale luxury travel site Spire, boutique hotel and villa specialist Chic Retreats, UK-focused Travel Intelligence, and luxury lifestyle curator Suzanne's Files.
Travesse Lifestyle Limited bought the US Perfect Escapes site network, alongside Starfish Interactive (www.starfishinteractive.com/), a proprietary online booking engine and inventory-management system for luxury travel, in March 2012.
Besides powering the company's own brands, Starfish also partners with other travel sites including Conde Nast Traveller (UK), Red Online, Room for Romance, Luxique, and Luxe City Guides.
by Bev Fearis
Monday, October 8, 2012