Founded in London in 2007 and employing 52 members of staff, the company specialised in responsible luxury holidays to destinations around the world, to a predominantly US customer base.
New analysis from KPMG UK finds the rising prominence of so-called ‘zombie firms’ - companies under sustained financial strain - is threatening to cause a significant drag-effect on the UK economy.
A number of UK travel companies and tour operators will struggle to survive in 2012 unless they radically change their business models and adapt to a fundamentally new market environment, a report from KPMG warns. The phenomenal rise of low cost carriers, online travel booking and the challenging economic backdrop, combined with fuel and Air Passenger Duty increases could make 2012 one of the most challenging years yet.
Low interest rates, high fuel prices and globalisation are combining to make the transport industry set for another wave of mergers and acquisitions, according to analysis by KPMG. Companies likely to undergo consolidation or sales include Virgin Atlantic, Ferrovial and Aer Lingus.