Travel agency firm, Travel Solutions, the trading name of Channel Island Executive Travel Ltd, has collapsed with debts of over £800,000.
In January the company announced it was being ‘taken over’ by a UK travel firm, but this has not materialised.
The company went into liquidation on 12 February and joint liquidators at Grant Thornton have written to all creditors saying the records show the company to be insolvent, and all assets are insufficient to pay its debts.
Travel Solutions lost its contract to supply the States of Guernsey with all its travel arrangements in November 2017. At that time, managing director, Fred Eulenkamp, announced the company would be taken over and that it would be “business as usual.”
Travel Solutions had outlets in both Guernsey and Jersey, as well as three in the UK. There were three directors of the company: Mr Eulenkamp; Alex Jones as Operations Director; and Amanda Eulenkamp as Director.
The Travel Solutions website is still active, but Business Eye CI understands that the retail outlets are currently available to let. None of the company’s directors were available for comment.