STA Travel UK ponders options after parent goes into administration
The UK operation of beleaguered STA Travel is ‘reviewing its position’ after its parent was forced into administration amid the Covid crisis.
In a brief statement issued this afternoon, the local operation said: "Following the decision to place STA Holdings, the parent company of STA Travel, into administration each division’s Country Manager and leadership team is now reviewing its own position.
"Further information will be confirmed as soon as this is finalised."
STA Travel operates 52 shops in the UK, the majority of which remain closed.
It is unclear exactly what options are open to the UK division, but sources said it remains possible subsidiaries may have ways of continuing to operate.
Earlier, STA Travel Holdings, which itself is part of the Diethelm Heller Group, said it was filing for insolvency due to Covid.
"It has brought the travel industry to a standstill, including STA Travel," the statement said.
"Over recent months, the company took decisive measures to secure the business beyond Covid-19. However, sales have not picked up as anticipated, due to consumer uncertainties, further restrictions and renewed lock-down measures, which are expected to largely continue into 2021.
"As a consequence, STA Travel Holding AG, is filing for insolvency. In the next few days, an external administrator will take over and determine next steps."
By Steve Jones, Contributing Editor
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