Teletext Holidays and Alpharooms go into liquidation and thousands of customers to be reimbursed

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TELETEXT Holidays and Alpharooms have collapsed and still have to reimburse thousands of customers.

Truly Holdings, which owns both companies, has gone out of business, according to the government’s insolvency database.

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Thousands of customers are affected by the collapse

Going into liquidation means the company ceases to operate and its remaining money and assets are returned to claimants.

This usually happens when a business is insolvent, which means it does not have enough cash to meet its payments and debts.

About 4,000 consumers would be affected by the collapse, according to MoneySavingExpert.

MSE announced this week that Edge Recovery has been appointed as the company’s insolvency practitioner.

It comes after the Travel Trust Association revoked the two companies’ memberships last November, citing financial problems.

Both companies struggled during the pandemic and faced criticism for failing to reimburse customers for vacations canceled due to Covid.

In May, Teletext Holidays pledged to reimburse £ 7million to customers who still owed money due to coronavirus cancellations by August 31, after thousands of people complained.

But in October, he faced legal action over allegations he had not done enough to reimburse customers for vacations canceled during the Covid crisis.

The consumer watchdog, the Competition and Markets Authority (CMA), has launched the legal battle against the company to guarantee reimbursement to customers.

More soon…

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