Creditors of STA Travel have agreed with the administrators recommendation that the company be wound up, with the likelihood of a return not looking all that promising.
The company, which was placed into voluntary administration back in August, operated online travel agent services and a network of 27 shopfront outlets across Australia.
Its COVID-induced collapse coincided with that of Swiss parent company STA Travel Holding AG.
The administrators of STA Travel recommended in its report to creditors issued on 17 September that the company be placed into liquidation due to its insolvent status and no proposed deed of company arrangement.
The report noted that it was very difficult to estimate the outcome for creditors and customers, with…
Read the full article at: https://www.travelweekly.com.au/article/sta-travel-placed-into-liquidation/
