Date Published: 15th December 2010
Davis World Travel has today (15 December) ceased to trade and the directors of the company have appointed Begbies Traynor to assist them in the formalities of placing the business into Liquidation.
Antony Fanshawe of the Southampton office of Begbies Traynor has announced that the company officially ceased trading today, with the loss of 20 jobs at its four outlets in Lee-on-Solent, Gosport, Fareham and Portchester and its corporate travel centre also in Fareham.
Formed in 1957, Hampshire-based Davis World Travel had a turnover of around £5-6 million generated through bookings for traditional package holidays as well as city breaks and cruises.
Antony Fanshawe said: “Despite its long-standing pedigree, this company has been a victim of a sea change in the way we book holidays. Add to this the events of the last year, the recession, volcanic ash, airline strikes and the impending threat of increased air taxes and the result has been devastating for this business. The directors decided they had no option but to place it into liquidation.
“This is another business which has fallen prey to global events since the beginning of the recession. As well as the ramifications this Liquidation has for holidaymakers, we have also to remember that 20 people have lost their livelihoods – it’s always sad to see job losses but it’s especially difficult at this time of year.”
Advice to customers
For customers who have booked a holiday, including packages and flights they should first contact their tour operator or airline directly.
Customers who have paid or part paid and have not yet travelled should contact their tour operator in the first instance.
Customers who are abroad with a scheduled flight booked, shouldn’t be affected regardless of how payment was made and to whom.
Customers who are currently abroad having travelled on Davis World Travel tickets should, as a precaution, contact their airline to be sure they are covered.
Customers who paid with a credit card will be afforded additional protection.
Begbies Traynor has set up a helpline for information other than specific advice surrounding travel plans. This is available on 023 8038 2702 or further enquiries should be directed to [email protected] from 10am December 16th.
Julie is a law graduate who qualified with Price Waterhouse in 1994. Julie joined Smith & Williamson in 1997 and became a partner in 2001. With Mike Stevenson, Julie set up Middleton Partners offices in Salisbury and Southampton, both of which are now part of Begbies Traynor.
Julie is a member of the Insolvency Practitioners Association and is a Fellow of The Association of Business Recovery Professionals. Julie deals with all aspects of Corporate Recovery and turnaround work and takes all form of personal insolvency appointments.