A travel company that operated excursions internationally and across Britain, including throughout the Cotswolds region, entered liquidation with every journey scrapped and liabilities approaching one million pounds.

Chris Parkman, representing specialist business consultancy Purnells, was named as the liquidator for Gold Crest Holidays on 19 March following the company’s sudden collapse.

Filings with Companies House indicate the business possessed approximately £156,000 in assets potentially available for distribution to those owed money.

However, records demonstrate this sum falls considerably short of what is required, with an anticipated deficit of £452,000 remaining after assets are exhausted.

The company’s records show 63 creditors in total, with combined debts estimated at £927,000, though this figure represents an approximation and may not reflect the precise total.

Barclays Security Trustee Limited appears on the creditor list with £309,000 owed, while Barclays Bank plc is owed £98,000 and Barclaycard is owed £33,000.

The travel industry body ABTA, which offers professional travel guidance, support and financial protection, is listed as a creditor owed approximately £107,000.

Ten members of staff hold preferential claims amounting to nearly £10,000.

Gold Crest Holidays focused on providing coach-based holidays to Disneyland Paris, city breaks across European destinations, trips to significant sporting occasions, brief British getaways and experience-based holidays.

The company entered voluntary liquidation after more than three decades in operation, having stopped trading on 23 January.

According to the business, this outcome followed the severe impact of the COVID-19 pandemic, strategic changes in key partner arrangements that adversely affected their business, and a challenging trading environment with significantly rising costs. The company expressed gratitude to loyal customers, travel agents, suppliers, and dedicated staff for their support over the years, adding that they were sorry they could no longer continue. They also apologised for any disappointment or inconvenience caused and noted that ABTA would provide clear support to affected customers.