Read us | Listen to us | Watch us | Join Live Events | Turn Off Ads | Live |

Click on your language to translate this article:

Afrikaans Afrikaans Albanian Albanian Amharic Amharic Arabic Arabic Armenian Armenian Azerbaijani Azerbaijani Basque Basque Belarusian Belarusian Bengali Bengali Bosnian Bosnian Bulgarian Bulgarian Catalan Catalan Cebuano Cebuano Chichewa Chichewa Chinese (Simplified) Chinese (Simplified) Chinese (Traditional) Chinese (Traditional) Corsican Corsican Croatian Croatian Czech Czech Danish Danish Dutch Dutch English English Esperanto Esperanto Estonian Estonian Filipino Filipino Finnish Finnish French French Frisian Frisian Galician Galician Georgian Georgian German German Greek Greek Gujarati Gujarati Haitian Creole Haitian Creole Hausa Hausa Hawaiian Hawaiian Hebrew Hebrew Hindi Hindi Hmong Hmong Hungarian Hungarian Icelandic Icelandic Igbo Igbo Indonesian Indonesian Irish Irish Italian Italian Japanese Japanese Javanese Javanese Kannada Kannada Kazakh Kazakh Khmer Khmer Korean Korean Kurdish (Kurmanji) Kurdish (Kurmanji) Kyrgyz Kyrgyz Lao Lao Latin Latin Latvian Latvian Lithuanian Lithuanian Luxembourgish Luxembourgish Macedonian Macedonian Malagasy Malagasy Malay Malay Malayalam Malayalam Maltese Maltese Maori Maori Marathi Marathi Mongolian Mongolian Myanmar (Burmese) Myanmar (Burmese) Nepali Nepali Norwegian Norwegian Pashto Pashto Persian Persian Polish Polish Portuguese Portuguese Punjabi Punjabi Romanian Romanian Russian Russian Samoan Samoan Scottish Gaelic Scottish Gaelic Serbian Serbian Sesotho Sesotho Shona Shona Sindhi Sindhi Sinhala Sinhala Slovak Slovak Slovenian Slovenian Somali Somali Spanish Spanish Sudanese Sudanese Swahili Swahili Swedish Swedish Tajik Tajik Tamil Tamil Telugu Telugu Thai Thai Turkish Turkish Ukrainian Ukrainian Urdu Urdu Uzbek Uzbek Vietnamese Vietnamese Welsh Welsh Xhosa Xhosa Yiddish Yiddish Yoruba Yoruba Zulu Zulu

Dreamticket.com assets being sold

0a1_934
0a1_934
Written by editor

The assets of Dreamticket.com parent Selsdon Travel, which collapsed on Monday, are being sold in what is believed to be the largest asset sale in the industry since Cruise Control failed in 2005.

The assets of Dreamticket.com parent Selsdon Travel, which collapsed on Monday, are being sold in what is believed to be the largest asset sale in the industry since Cruise Control failed in 2005.

The collapse of the long-haul operator, which specialised in the Indian Ocean, Caribbean and Middle East, left 600 holidaymakers abroad. The joint administrators are seeking bids for the firm’s assets, which include 4,814 forward bookings worth £6.9 million and with a profit margin of £1 million.

The assets also include a database of 395,000 names and more than 80 domain names. The Civil Aviation Authority (CAA), through the Atol scheme, is making arrangements for people to complete their holidays and return to the UK, and to refund those with forward bookings.

Passengers overseas will have scheduled airline tickets, which are still valid. The CAA warned travellers that hotels could ask them pay again and that they would have to claim the money back later.

Selsdon Travel ceased trading despite the promise of investment from a new backer just three months ago. It was reported in March that private equity investor Hatfield Investments had bought a majority shareholding in the long-haul online specialist and call centre.

Selsdon was said to be the first of about 20 travel firms Hatfield was looking to invest in and, as part of the deal, Levy Benarroch became chief executive and his wife, Lynne, managing director.

The original Dreamticket.com was set up by Lawrence Hunt, now a director at Lowcost Travel Group, and Jo Rzymowska, Royal Caribbean Cruise Line’s UK general manager. Dreamticket.com ceased operating in 2001 and Selsdon acquired the domain name in 2002.