24th April, 2009
STATEMENT ISSUED ON BEHALF OF RMT ACCOUNTANTS AND BUSINESS ADVISORS AND HAYS TRAVEL LTD
As of today we are pleased to announce that the intellectual property rights of Freedom Direct Holidays Ltd, including customer database and bookings, web addresses and URLs, have been purchased by leading North East travel agent, Hays Travel Ltd.
Hays Travel Ltd will now assist former customers of Freedom Direct Holidays with the administration and handling of their bookings. It is also currently in the process of offering employment to all staff members who lost jobs and are seeking work after Freedom Direct Holidays ceased to trade.
Mike Pott, recovery and insolvency partner at RMT Accountants and Business Advisors, said: “The sale of the Freedom Direct Holidays business to Hays Travel Ltd is a great result for both creditors and customers. RMT has a long and successful track record of providing advice within the industry and has been working hard in the interim period to assist customers as much as possible.
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“Linda Farish and Anthony Josephs from RMT have been appointed joint administrators as of 23rd April 2009, and will now be dealing with the realisation of the remaining assets and the claims of suppliers to Freedom Direct Holidays.”
The Freedom Direct Holidays office, based on Gosforth Park Avenue, is not included in the deal and is now available for sale. Interested parties should contact the administrators. The financial details of the deal remain confidential.
Advisors to Hays Travel for the deal were Stephen McNicol and Robert Philips from Muckle LLP, Mark Hatton from Ernst and Young and specialist travel advisor Chris Photi from White Hart Associates. Dickinson Dees acted on behalf of the joint administrators.
John Hays, managing director of Hays Travel Ltd, said: “We were very sad to hear that Freedom Direct Holidays had ceased trading as it had a very good reputation and an excellent calibre of staff. Hays Travel was fortunately in a position to be able to purchase its assets and we would like to thank both RMT and our other advisors for their help and advice in completing the deal.
“We have also been able to offer the Freedom Direct Holidays staff alternative employment as part of the Hays Travel team. Nick Jackson, former managing director of Freedom Direct Holidays, and Grant Lawson, former head of sales have both joined Hays Travel and will continue to manage the other Freedom Direct staff joining the company, which includes the majority of the customer services team, web and marketing team and call centre staff. These employees will be based at Hays Travel offices in Ridley Place, Newcastle upon Tyne, and Vine Place, Sunderland. We are delighted to be able to help keep jobs in the North East.”
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Hays Travel Ltd will also be assisting former customers of Freedom Direct Holidays with the administration and handling of their bookings going forward. Customers with queries should contact 0191 510 6266.
ENDS