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Travel firm insolvencies 'fall'

Published on 28 Jul 2009 under category: legal

The number of travel firms falling into insolvency fell during the second quarter of 20009, a new study has found.

Figures from PricewaterhouseCoopers (PWC) showed that 12 companies of this kind became insolvent between April and June.

This is compared to 27 in the previous quarter and is the lowest number for a year.

However, the group warned that travel operators are likely to be hit by holidaymakers staying at home this summer, which could result in the need for insolvency solicitors.

Guy Gillon, director for PWC, said: "A year ago the perception was that consumers would do anything to preserve their hot holiday but as the grip of the recession tightens the staycation is now firmly on the agenda."

Earlier this week, Kerry Katona was told by Manchester Civil Justice Centre that her tax bill is set to be cleared thanks to earnings from television work, meaning that her bankruptcy order will be removed in the next few weeks.