Budget Travel Gone Bust

[friday1]

Does anyone know if you can get your money back?

[adrieanne__x]

Ireland’s largest tour operator Budget Travel will cease trading from this evening with the loss of 172 jobs and the closure of the company’s 17 retail shops, it has been announced.

The firm applied to the High Court to have the company placed into provisional liquidation and for the appointment of Simon Coyle of Mazars as provisional liquidator this afternoon.

Senior executives of the company and the liquidator will meet with the Commission for Aviation Regulation this evening with a view to making arrangements to cater for holidaymakers who are currently abroad and for holidaymakers who had been scheduled to depart in the coming days and weeks.

The company says that it has already drawn up contingency plans and will work constructively with the Commission to minimise the disruption caused to holidaymakers.

The company currently has a bond of €11.4m in cash lodged with the Commission which will be used to assist holidaymakers abroad and refund any deposits or bookings made with the company which can not now be honoured.

The management of that process and the payment of refunds etc is at the discretion and control of the Commission which will have the total assistance of the liquidator in the processing of claims.

A helpline (01-6613122) has been established at Budget Travel to deal with queries from customers .

Budget Travel managing director Eileen O’Sullivan today expressed her deep regret and sadness at the decision to place the company into provisional liquidation.

"This has been a painful and distressing time for us all and we deeply regret that this situation has arisen," she said.

"We particularly regret the impact of the decision on our loyal customers and on our colleagues across the company many of whom have worked with us for decades. We will do everything we can to minimise the impact of this decision especially on those who are currently travelling with us."

Ms. O’Sullivan said that the dispute with the Commission for Aviation Regulation regarding the granting of licences for the coming year had brought financial challenges to a head.

"The travel industry in Ireland is facing massive pressure from a sharp and sudden collapse in demand this year," said O’Sullivan.

"We understand that the Commission has a job to do but we sincerely believe that had our licences been renewed as expected we would have been able to apply to the courts for protection under the Examinership procedures during which we could have restructured our business to take account of the market collapse.

"Not only that but we would have benefitted from the fact that the bond necessary to secure the licences going forward would have been approximately 40% smaller than the €11.4m bond currently with the Commission.

"The difference refunded to the company would have helped it to tackle its financial challenges."

Budget Travel began a restructuring process in August of this year when it announced the closure of 14 of its retail outlets and the loss of approximately 95 jobs.

While that addressed some of the financial challenges the company was facing, it has not been sufficient to prevent the financial challenge escalating, the company has stated.

Read more: http://www.breakingnews.ie/ireland/b...#ixzz0Xsw2vAe1

From Here..

[Cabaal]

There website looks like its still taking bookings, they might want to update it

[Oryx]

Budget are also being discussed in the travel and holidays forum.

http://www.boards.ie/vbulletin/showt...0#post63187150

[messrs]

not sure if this in right forum - please feel free to move.

Budget Travel, the largest tour operator in the State, is to be wound up after the High Court this afternoon appointed a provisional liquidator to the compnay.
A total of 747 people are currently on holiday abroad with Budget Travel.
The company says it is working closely with the Commission for Aviation Regulation to ensure plans are put in place to enable all customers to return to Ireland with the minimum of inconvenience.
For people who have booked holidays with Budget Travel, the company says it may be possible to arrange the same, or a similar holiday package with an alternative company.

Other customers will receive a full refund in due course from the Commission for Aviation Regulation.
The company was established in May 1975 and has a 30% share of the market. It has 17 outlets and employs 172 people.
Budget Travel began a restructuring process in August of this year when it closed 14 of its retail outlets and the loss of approximately 95 jobs.
A helpline has been established at Budget Travel to deal with queries from customers. The number is 01-6613122.

[adrieanne__x]

Thread just below for this...

[therewillbe]

Thanks to the Internet& pcs and the recession another fine Irish ! company has gone. Sad day.Thanks for all the great Holidays over the years.

[dudara]

If anyone is affected by this, please contact Budget Travel on the helpline number provided 01-6613122.

They have a large bond lodged with the Commission for Aviation Regulation for this exact purpose.

[mcaul]

Originally Posted by therewillbe

Thanks to the Internet& pcs and the recession another fine Irish ! company has gone. Sad day.Thanks for all the great Holidays over the years.

Its a long time since it was an Irish company. Gillian Bowler sold out to Granada,(UK) who then sold it to Tui travel (German & world's biggest) who in turn sold it to Primera Travel group. (Swedish)

Though i will say that whenever i dealt with them, the staff were particularly good.

The good news is, thanks to the bonding system, no member of the public will be at a loss.

[vincenzo1975]

we have a holiday in madeira booked with 540 euro paid off, will need to get onto this number tomorrow.
The budget paperwork has PRIMERA TRAVEL GROUP at the bottom, have they gone or is it just the budget travel section.

[Cynical me]

Originally Posted by mcaul

Its a long time since it was an Irish company. Gillian Bowler sold out to Granada,(UK) who then sold it to Tui travel (German & world's biggest) who in turn sold it to Primera Travel group. (Swedish)

Though i will say that whenever i dealt with them, the staff were particularly good.

The good news is, thanks to the bonding system, no member of the public will be at a loss.

Who cares about Budget! they are a ripp off anyway

[Run_to_da_hills]

Originally Posted by Cynical me

Who cares about Budget! they are a ripp off anyway

Awld ones and the computer illiterate cared about them.

I saw two that looked to be in their 70ies outside the Budget office in Dunlaoghaire SC today. They wer due to fly out in December If they booked by credit card they might even be able to claim travel insurance on top of all this.

[Max Power1]

Originally Posted by Cynical me

Who cares about Budget! they are a ripp off anyway

Thats exactly why they went bust! Too many people could book their own holidays online cheaper than budget travel

[vincenzo1975]

Originally Posted by Max Power1

Thats exactly why they went bust! Too many people could book their own holidays online cheaper than budget travel

thought it had something to do with that thing called the recession meself.

If your looking for a nice hotel with 4-5 star facilities, its very hard to beat the travel agent prices. If your looking for any old kip with a ryanair crappo flight, you will probably save a few bob.

[vincenzo1975]

oh yeah, is it possible to get a list of fully bonded travel agents anywhere, how do we know if the travel agent is legit? do we just have to take their word for it?

UPDATE*** CLAIM FORM CAN BE DOWNLOADED HERE!!

http://www.aviationreg.ie/Albemarie_...fault.442.html