365 Tickets collapses into liquidation

A major international ticketing company has collapsed in the wake of the Covid-19 crisis.

365 Tickets, which traded under the names of 365 Global Tickets and 365 Tickets International, sold and distributed tickets for tourist attractions around the world and was expected to turnover £20-£25 million in the coming year.

The firm, based in Jersey and London, was founded in 2001 and held direct contracts with companies including Disney Destinations, Merlin Entertainment, Historic Royal Palaces, Empire State, Sydney Bridge Climb and Burj Khalifa.

But the impact of worldwide travel bans which started to hit in the industry in February has wiped out all income, forcing the directors to wind up the companies with the loss of 19 jobs.

Insolvency firm CVR Global has been engaged to assist with the winding up process.

Adrian Rabet, of CVR Global, said: “We can confirm that the directors of the two companies have, with regret, ceased trading due to the impacts of Covid-19 on the travel and leisure industry.

“The companies have a 20-year history but, like many others in the sector, have seen their business wiped out almost instantly by the Coronavirus pandemic.

“The 19 staff – 17 in Jersey and two in the United Kingdom – have sadly lost their jobs.

“The tourism industry has felt the full economic brunt of the Covid-19 crisis and it has seen incomes disappear in a matter of days with inevitable consequences.

“There are thousands of companies in a similar position and it is very sad to see as many are family firms who, like 365 Tickets, employed small and very dedicated teams of staff.”

Source : Breakingtravelnews