A travel agency that was turning over approximately $2 million annually has collapsed into voluntary administration after a proposed merger fell through.
The travel divisions of Round the World Experts Pty Ltd and RTWexperts Pty Ltd entered voluntary administration on May 9, with Timothy Mableson and Martin Lewis of Ferrier Hodgson appointed to manage the companies.
A spokesperson for Ferrier Hodgson told SmartCompany the travel divisions of the companies ceased trading just prior to the appointment of administrators, however, the companies also operate a web design and app development business, which is continuing to trade.
The spokesperson also confirmed the travel divisions of the compa…
Read the full article at: http://www.smartcompany.com.au/finance/cashflow/69335-travel-agency-collapses-into-voluntary-administration-after-proposed-merger-fell-through/