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Notice of Intention to Appoint Administrators

Jetline Travel in Administration After It Stopped Trading

In March, Jetline Cruise's parent firm, Jetline Travel, which was established in 2000, stopped trading as an ATOL-protected travel agency. According to reports it has now gone into administration.The company operated under a number of brand names at the time, including Save on Sun, Bargain Late Holidays, Best Priced Holidays, Cruise and More, and Elegant Getaways.Jetline Travel reported an operational profit of £655,000 and a turnover of £28.1 million in 2023. 5,000 customers—the majority of whom had reservations for cruise vacations—were impacted when the company stopped operating as an ATOL operator in March.Due to a "breach of contract" with Jetline, a number of well-known cruise reservations with companies like Princess, Cunard, and Holland America have since been cancelled. The Civil Aviation Authority (CAA) released advice for impacted passengers in early March: "If you are currently abroad and have a scheduled flight e-ticket, the flight is still valid for your return trip." Kindly check in with the airline as usual. We are obtaining data from the business and will shortly offer more instructions on how to make a claim for reservations that are ATOL-protected"Bookings that solely include lodging, non-flight packages, or cruises without flights are not covered by the ATOL scheme, the CAA confirmed."Jetline Travel Ltd. acted as an agent for other ATOL holders," they continued. Jetline's ATOL does not safeguard these reservations. To find out who is providing protection, look at the 'Who is protecting your trip?' section on your ATOL Certificate. Get in touch with the ATOL holder directly if they are still operating.Jetline is represented in the travel industry by the Advantage Travel Partnership, whose representative apologised for the incident. They expressed their sadness at Jetline Travel's closure to The Independent. "Since 2015, they have been a valued member, and we are thinking about the impacted consumers and employees."Anyone who has a cruise-only trip booked, or one with just accommodation that doesn't have flights included, are not protected under ATOL.

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Jetline Travel in Administration After It Stopped Trading

Cardiff Rugby To Go Into Administration

Cardiff Rugby is intending to appoint administrators according to reports on the BBC and in the Daily Mail.  The Welsh Rugby Union is expected to step in to stop the club disappearing as was the case with the Wasps in England.Investment group Helford Capital Limited completed a Cardiff takeover in January 2024 after it acquired an 84.55% shareholding in the regional team.In March 2024, Cardiff announced a loss of £2.1m for the year ending June 2023, with the next set of accounts due in May 2025.It is understood that the Club will honour all signings for next season and, what will no doubt come as some relief, there is no automatic points deduction if a club goes into administration.The club has been playing since 1876 and is regarded as one of the grand old clubs.  Its home ground is Cardiff Arms Park which has played host to famous victories over even national teams like the All Blacks.

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Cardiff Rugby To Go Into Administration

Typhoo Tea In Administration Threat

One of the Britain's oldest tea companies has filed an intention to appoint administrators in the court.This follows a very difficult year with sales falling and an expensive break in at one of its factories.  Sales fell from £38m to £25m in 2023 and it had to take an exception cost of £24m relating to the damage of stock and equipment following the break in.The company was founded in 1903 by grocer John Sumner and was at one time the best selling tea brand in the UK.It should be noted that the intention to appoint administrators is a way of protecting the company from aggressive creditor actions, such as winding up petitions.  It gives the company protection for 10 days whilst it tries to rescue the business.  This might be additional finance or a sale.  EY is named as the possible administrator and will be looking at the options.Private equity firm Zetland Capital has been the company’s majority shareholder since 2021. Typhoo’s debts stood at £73m at the end of September 2023, compared to £53m a year earlier.According to the company's accounts it has made losses in excess of £40m every year since 2019.    

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Typhoo Tea In Administration Threat
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Notice of Intention To Appoint Administrators

A notice of intention to appoint administrators is when the company files a document to the court to outline that it intends to go into administration if a solution cannot be found to its immediate financial problems. It can be used as part of the pre-pack administration process as well as used to restructure a failing business to avoid its liquidation.

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Notice of Intention To Appoint Administrators