Tempo Holidays and Bentours (AU/NZ) have advised the business has been placed in voluntary administration.
The Tempo Holidays and Bentours business entered into voluntary administration today at 3pm, following ongoing financial troubles of its parent company, Cox & Kings India.
Cox & Kings India advised it had been seeking investors/buyers in recent weeks and had seen “heavy interest”, however “as this has not materialised as of today, Tempo Holidays and Bentours are unable to continue operating in Australia and New Zealand”, the company said in a statement.
The board is in the process of appointing an official administrator and Tempo Holidays and Bentours staff will be working with agents, suppliers and their clients to assist in the next steps, once confirmed.
“It is understandably a sad day for all staff concerned, along with the trade,” the company said in a statement.
The company thanked its passionate and supportive staff for their contribution and dedication and extended its deepest and sincere gratitude to all of its travel agents and trade partners for their loyalty and continual support over the years.
More in tomorrow’s edition of Travel Daily.