A London-based travel firm that specialised in Italy and France holidays, river cruises, and Northern Lights trips has been bought out of administration by The Travel Network Group (TTNG). The company, incorporated in June 2019, collapsed into administration on May 14 and was recently listed as an ATOL failure. It will now operate under a new company name and business entity, according to Travel Weekly.
Business and assets acquired
TS Travel Realisations Ltd, which traded for nearly seven years under the names TS Tours, Tripsmiths Travel, Tripsmiths Tours, and TS Travel, owned the websites tripsmiths.com and ts.tours. TTNG has acquired the businesses and assets from Moorfields, the administrators, and existing bookings and future tours are to proceed with no disruption expected for customers.
Former CEO comments
Former chief executive Charles Starmer-Smith told Travel Weekly: “Despite the growth of our agency and operator arm, TS Travel, the impact of Covid and the challenging trading conditions across the wider business, coupled with declining search traffic and circulation among our partners, resulted in the businesses entering administration.”
He added: “However, all holidays will proceed as planned and no customers will be affected, with all bookings continuing to be protected through the Travel Trust Association.”
He also said: “We are delighted that The Travel Network Group has acquired the businesses as they will provide the support, expertise and trade partnership opportunities that will enable the business to thrive and expand the range of its hand-crafted expert-led tours which offer something truly unique in the travel market.”
Other travel firm failures
TS Travel Realisations is not the first travel business to collapse into administration this year. Earlier this month Ilford-based firm Yourtravelshop.com, which offered Islamic-based faith trips, went out of business. In May, Travel Bespoke Ltd, owner of brands such as Ski Bespoke, Chalet Bespoke, and Spa Bespoke, was also listed as an ATOL failure.
If you're stranded overseas when a travel firm enters administration and it has an ATOL number, you should be protected, and ATOL will usually try to keep your holiday running as usual. If there are flight cancellations, ATOL may step in and arrange flights to repatriate Brits. ATOL has information on its official website about making a claim, including the types of holidays covered and what to do if you have a booking for a future trip. Holidaymakers should also ensure they have adequate travel insurance as soon as they book a holiday, as this can help cover unexpected expenses caused by the cancellation that may not be covered by ATOL.
