Cox and Kings India backed Tempo Holidays and Bentours collapse
The financial woes of cash-strapped Cox and Kings (India) have caused another travel industry collapse.
Cox and Kings backed Tempo Holidays and Bentours has creased trading die to lack of funds.
In a statement it said that Cox and Kings (India) had been ‘seeking investors or buyers with heavy interest, however as this has not been materialised.’
"It is understandably a sad day for all staff concerned along with the trade. Tempo Holidays and Bentours have been wholesalers within AUS/NZ for over 30 and 40 years respectively, and have experienced great success and growth over recent years," a spokesperson said.
It will appoint an official administrator and will inform trade partners regarding the status of all forward bookings for their clients.
Alarm bells had been ringing when Tempo Holidays’ ATAS Accreditation was revoked by AFTA a month ago.
Cruise line Hurtigruten says it has numerous forward bookings made by Bentours and is working with agents and clients to minimise disruption.
"Hurtigruten will work closely with agents and clients to offer travel solutions and alternatives arising from the Bentours, Cox & Kings and Tempo Holidays collapse," the cruise line said.
"Agents and clients with forward bookings through Bentours are advised to contact their agency head office to check on policies or contact Hurtigruten."
Cox & Kings (India) has been in dire financial straits for some time and has defaulted on multiple loan repayments in the past few months.
This also led in part to the closure of UK travel brands Superbreak and LateRooms.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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