Cruise Control folds

11th Oct 2005

ABTA has confirmed that one of the UK’s largest cruise retailers, Cruise Control,  was unable to meet its liabilities and has ceased trading.
The news has come despite ABTA’s efforts to stave off the collapse.

Cruise Control has been operating since 1998 and claimed to account for 16% of all cruise bookings in the UK with a customer database of around 250,000 and 250 staff.  It
is believed to have been £8 million-10 million in debt, with up to £50 million in forward bookings. The company previously voiced plans to set up a US retailer based out of Miami.

A statement from Cruise Control, which was released yesterday, said: “Cruise Control (UK) Ltd can advise that the institutional investor which was due to invest £4 million into Cruise Control has since withdrawn its funding.

“This was due to the feeling that the investor would not be supported by certain trade creditors. Therefore, the directors of Cruise Control have had no choice but to instruct Price Waterhouse Coopers to put the company into voluntary liquidation, with effect from 1.40pm today.”



All passengers currently on cruises will not be affected and will be able to
continue with their holiday. Customers who have made a booking with Cruise
Control and are yet to travel should be able to go on their holidays and
cruises as planned.

In the first instance, customers who have booked through Cruise Control and
yet to travel should contact the cruise line or tour operator with whom they
are travelling.


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