Posted on 4 June 2015
Specialist coach hire business Chiltern Travel Limited has been saved from closure after it was sold following it being placed in to Administration upon the application of an unsecured creditor to the High Court.
The travel company, which operates from its base in Bedford, specialises in the provision of luxurious coaches and minicoaches, as well as coach tours across the UK and Europe.
Midlands based accountancy and business advisory firm Smith Cooper was brought in to trade the business in Administration whilst seeking a buyer for the business and assets.
The Administrators, Dean Nelson and Nick Lee of Smith Cooper, traded the business for an eight day period whilst an accelerated sale and marketing process was undertaken, with a buyer being identified and a sale being successfully concluded on 22nd May.
Director of Business Recovery and Insolvency, Michael Roome commented: “Given the company’s excellent, longstanding reputation, dedicated workforce and comprehensive service offering, we were confident that once we were in situ that a buyer could be found provided that the business could be held together and continue to trade for a short period in Administration.”
Michael added: “Thankfully a suitable purchaser was found and we were able to complete quite a challenging transaction, saving 16 jobs, in the short window available. This has enabled the Chiltern Travel brand to continue trading with its customers experiencing no issues or concerns in relation to the continuity of service and supply.”
Rachel McCahill-Brown of Nelsons Solicitors acted on behalf of the Administrators in relation to the sale of the business and assets whilst Mark Stigwood of Attwaters Jameson Hill acted on behalf of the purchaser.