ANOTHER UK holiday company has gone into liquidation after nearly 30 years.
Global Vision International (GVI), an Exeter-based company, has cancelled all holidays.
Offering programmes abroad, including nature and conservation ones, they have been forced to close after 28 years.
GVI CEO Andrew Valentine said in a statement: “It is with an incredibly heavy heart that I write to share that GVI is today closing its doors.
“Over the last 28 years, we successfully supported critical wildlife and marine conservation projects to safeguard endangered ecosystems, partnered with local communities through collaborative education and sustainable livelihood initiatives, and welcomed an incredible network of alumni who continue to advocate for our planet.
“I deeply regret the effect that GVI’s closure will have on staff, projects and customers, and we are committed to providing clear information to those affected as GVI goes through a formal liquidation process.”
Anyone with holidays booked will be contacted regarding how to claim back, according to the website.
It stated: “GVI staff on the ground are supporting participants as they make plans to depart GVI bases.
“All impacted participants will receive formal correspondence detailing the liquidation process and instructions on how to lodge a claim.”
It comes as Bath-based travel firm Groupia Ltd closed after 24 years.
It used to offer group-based travel experiences including weekends away as well as hen and stag dos to destinations such as Prague and Barcelona.
Here’s all the travel companies that have recently gone bust.
Why do travel companies go bust?
LISA Minot, The Sun’s Head of Travel explains what it means when a travel company goes out of business:
While there seems like there has been a recent spate of travel companies going bust – the numbers don’t back it up.
But we can sometimes see a spike when travel companies are required to renew their ATOL (Air Travel Organiser’s Licence).
All travel firms selling flight-based package holidays must, by law, hold an ATOL.
This vital licence provides gold-standard consumer protection that ensures you don’t get stranded abroad or lose your holiday money if a firm goes bust.
The ATOL scheme is run by the Civil Aviation Authority and twice a year, usually at the end of March and September – firms must renew their licence.
To do this, travel companies must open up their books and show the CAA they have healthy balances and have enough cash and resources to continue trading.
If a firm has suffered from a bad booking season or has increased debts, the CAA can refuse to renew their licence.
And because it is illegal to sell package holidays without an ATOL, losing it effectively means businesses are forced to stop trading.
This is why, twice a year, we will see an increase in the number of travel company failures.
But the CAA say that right now, even with the pandemic and fuel crisis, the long term trend is that travel company failures are down.