Travelzest one to avoid If your thinking of booking with any of these travelzest brands, think again. Our best travel advice would be, NOT Until they get their financial affairs in order.

They include - The Best of Morocco
Captivating Cuba Faraway Holidays JMB Travel -The Malaysia Experience Peng Travel Tapestry Collection VFB Holidays -The Wow House Company -The Cruise Professionals -Fair’s Fare -Flight.co.uk itravel2000.com

We understand that Under the Terms of the existing facility provided by Barclays dated June 19, 2008, a capital repayment of £620,550 and C$2,668,557 and associated interest became due on May 31, 2011.

Travezest has said that Barclays has agreed to a further deferral of the capital repayment and to a further waiver from certain covenants until July 29. This follows an initial extension to June 30.

Travelzest also confirmed that it is still in discussions in relation to a potential offer first disclosed in April but “there can be no certainty that the talks will result in an offer being made for the company”.

“The terms of the proposed new facility are expected to be more favourable than those of the existing facility,” Travelzest said.

“Discussions with one bank continue to progress. The terms of the proposed new facility are expected to be more favourable to the company than those of the existing facility,” Travelzest said.

Travelzest owns a number of specialist tour operators including the naturist operator Peng Travel. It has recently restrucured its business in the UK consolidating its operations into one head office and made a number of redundancies.

Similar Posts:

• Travellers Worried About Spanish Strike Threats
• Cheap travel offers worldwide bargains
• ‘No Worries About Thomas Cook Bookings’
• Enjoy jazz on a New York holiday
• High st Travel agents get rid of ‘time-wasting’ customers