While today the staff have been dealt with the devastating news, Tempo Holidays and Bentours staff will be working with respective agents/suppliers and clients to assist in next steps once confirmed.– Tempo Holidays and Bentours (AUS/NZ)
MELBOURNE - Two Australian travel wholesalers have collapsed, and their businesses placed into voluntary administration.
Tempo Holidays and Bentours (AUS/NZ) are part of the Cox and Kings family in India, where the parent has been under severe financial pressure.
Bentours is a Scandinavian and Polar specialist which works closely with the Hurtigruten cruise line.
In a statement issued on Thursday, Tempo Holidays and Bentours (AUS/NZ) said they had been advised by Cox and Kings (India), “that the company have been in recent weeks seeking investors/buyers with heavy interest, however as this has not been materialised as of today Tempo Holidays and Bentours are unable to continue operating in AUS/NZ.”
The statement went on, “While today the staff have been dealt with the devastating news, Tempo Holidays and Bentours staff will be working with respective agents/suppliers and clients to assist in next steps once confirmed.
“It is understandably a sad day for all staff concerned along with trade. Tempo Holidays and Bentours have been wholesalers within AUS/NZ for over 30 and 40 years respectively and have experienced great success and growth over recent years.”
Hurtigruten, on its website, said it is committed to working with affected agents and guests to confirm their bookings.
Cash strapped Cox and Kings India was unable to declare its quarterly financial results in August and was granted a 180-day delay to finalise a resolution plan.
The company has been in dire financial straits for some time and has defaulted on loan repayments in the past few months.