Transfer provider Resorthoppa (UK) had been loss-making for years and only emerged from a corporate voluntary arrangement (CVA) last November before going into administration this month.
However, the failure can be traced back to the collapse of Lowcost Travel Group in 2016 which left Resorthappa to write off a debt of £1.3 million.
Resorthoppa (UK) and parent Resorthoppa entered administration on March 4, with administrators acting for KR8 Advisory confirming the business and assets were sold to new company Hoppa Group, set up in February, with “equity investment from new investors”.
Staff were transferred to Hoppa Group, marketed as “the new face of Resorthoppa”, at the same time.
The failed transfer provider and its parent were…
