A travel company offering coach tours across the UK and Europe has been issued with a winding up order by the High Court.
Immaculate Travel, which promoted more than 20 years of experience in organising coach tours to destinations including Rome, Amsterdam, Stonehenge, and Windsor Castle, has been wound up following a petition from business loans firm Bizcap Limited.
The petition was filed in May, with the case heard before District Judge Matharu on July 21.
The company was ordered to be wound up under the Insolvency Act 1986.
A winding up order is a court instruction to end all business affairs and close the company.
Immaculate Travel described its services as "expertly arranged tours" with "stress-free transportation" on private hire minibuses and coaches.
Its website listed tours to major UK landmarks as well as regular trips to Rome, Amsterdam, and Paris from London.
The company also offered private hire for school trips, festivals, sporting events, and airport transfers.
The firm’s last social media activity was on August 16, when it shared a five-star review of a trip to Bath.
Other customer reviews described the company’s service as "an excellent experience from start to finish," with one reviewer in July saying they would "definitely be using the service again."
Companies House records now list Immaculate Travel as "in liquidation."
What happens when a company goes into administration?
When a company enters administration, it means that it is unable to pay expenses, debts, or other liabilities, according to SquareUp.com.
Companies House adds: "When a company goes into administration, they have entered a legal process (under the Insolvency Act 1986) with the aim of achieving one of the statutory objectives of an administration. This may be to rescue a viable business that is insolvent due to cashflow problems.
"An appointment of an administrator (a licensed insolvency practitioner) will be made by directors, a creditor or the court to fulfil the administration process."
A statutory moratorium is put in place once a company enters administration, giving it "breathing space" to allow for financial restructuring plans to be drawn up free from creditor enforcement actions.
A company can continue to trade while in administration, but daily management and control are handed over to the administrators.
Companies House continues: "Within 8 weeks it is the administrators’ role to formulate administration proposals.
"Creditors are then asked to vote by a decision procedure to approve the administrators’ proposals.
"If the administration involves a sale of all or part of the company’s business, the proceeds (after the costs of the procedure) will be distributed to creditors in a statutory order of priority."
Administration will end automatically after 12 months unless the administrator asks the court or creditors for an extension.
Through administration, a company can be:
- Rescued and passed back to the directors
- Enter liquidation
- Be dissolved
Share