Laterooms And Superbreak Are On Administration05/08/2019
Most leading hotel booking site Laterooms and travel booking site Superbreak has been collapsed. Both companies has gone into an administration.
According to Daily Mirror reports hotel reservation platform Laterooms crashed on Thursday. After its parent company Malvern Group ran out of cash without securing a sale.
In the previous month Malvern has appointed KPMG to accelerate the sales process after Cox & Kings India (which has 49% stake in Malvern) defaulted on loan payments.
This resulted withdrawal of an further funding of Malvern. The company was also unable to secure additonal funding from banks.
Superbreak announced a new partnership with budget hotel chain easyHotel just before 24 hours it became insovlent.
Hugo Kimber, Executive Chairman of Malvern Group, said in a statement: “This is a devastating blow for all of our wonderful employees who have invested so much time and effort into building Malvern, its brands and trips technology platform.”
He also further added: “This is equally difficult for all our suppliers, partners and customers who will be impacted by this news. To be so close to delivering our goal of an integrated, dynamic and commercially successful business, that could provide significant value through its innovative products, is heart-breaking.”
Know you rights if you have a booking with Laterooms And Superbreak
If you have already booked with Laterooms and Superbreak. This applies both way if you are already on holiday or about to going on holiday.
You need to aware that both Superbreak is covered by ABTA.
Have you already make your booking with Superbreaks? Then you can eligible for a refund. You can find out more information from this page.
If you are already on holiday you contact directly ABTA on 020 3117 0553.
Howver, Laterooms is not part of the ABTA. You can findout more information on how to claim for a refund from here.