An Australian travel start-up which helped people perform the difficult task of purchasing an international train ticket has gone out of business.
Metro 1 Travel and Technology Pty Ltd which ran little-known train booking platform ‘Rail Online’ has gone under with $2.7million in debt.
Administrators put the company into liquidation on New Year’s Eve while it still owed about $879,000 to employees who worked remotely at the defunct Sydney-based international rail booking company.
An estimated $603,304 is owed in wages, according to an administrator’s report.
Metro 1 Travel and Technology Pty Ltd director James Dunne had hoped a $12million capital raise would come through last month so the company could repay debt and fund ‘future growth’ but…