KPMG appointed as administrators of Excite Holidays companies operating in Australia.
The companies used by Excite Holidays to operate its business in Australia have just been placed under external administration, according to the Australian Securities and Investment Commission (ASIC).
ASIC records confirm the appointment of Morgan Kelly, Philip Quinlan and Amanda Coneyworth from the Sydney office of accounting firm KPMG as joint and several administrators of Global Travel Specialists Pty Limited (ABN 63 101 298 248) and its parent company, Global Travel Holdings Pty Limited (ABN 14 608 961 986).
George Papaioannou is the sole Director of Global Travel Specialists, while he and Nicholas Stavropoulos, Excite Holidays MD, are both directors of Global Travel Holdings.
The collapse of Excite Holidays follows weeks of speculation about the future of the business, which just yesterday closed its agent website to new bookings.
More information in Travel Daily as it comes to hand.