Thu, 22 Dec 2011 | DIVISION SALE
Travelzest, the owner of several holiday operators including nudist holiday firm Peng Travel, is making a move to sell off its loss-making UK brands.
The UK operations up for disposal have not been identified, though potential new owners have already stepped forward.
Its UK brands include JMB Travel, which offers opera holidays, and VFB Holidays, which provide self-catering holidays in France.
The firm plans to focus on its successful business in Canada, as well as growing brands such as flight.co.uk. It will keep its head office in Cheltenham, and its other strongest performers, holiday.co.uk and Travelzest Holiday.
It said that 90 per cent of its revenues and profits are derived from its Canadian operations, including itravel2000 and The Cruise Professionals.
The firm said that the sale is expected to improve underlying operating profits by around £1.5 million.
Chairman Mark Molyneux commented to the Press Association, “By divesting those assets that are not performing, particularly in the current very difficult economic climate in the UK, which contrasts with much better conditions in Canada, we are building a stronger business that its well positioned for future growth.”
It is expected that Red Label might make a new offer for the businesses, after first expressing interest in September.
This longstanding East London business is a well-respected glazing contractor and glass processor with a solid reputation for quality and customer service, making it an ideal acquisition for companies seeking to expand in the double-glazing sector or...
This is an exciting opportunity to acquire a well-established heating and mechanical services company with a strong client base and a steady stream of revenue from long-standing relationships. The business offers the potential for expansion into elec...
Present to market the opportunity to acquire a historic and successful retail business specialising in the sale of home appliances. With a rich history spanning over sixty years, our client has played a vital part at the heart of its community for ge...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.