Online travel service closes over loss of key accounts

 

A TRAVEL firm which was the country’s largest online travel service provider has ceased trading, citing the loss of “key merchant accounts”.

A liquidator is to be appointed to the online company MyGuide Ireland.

Established in 1998, it had offices in west Cork and Boston and employed 50 people – 14 of whom were based in offices in Cork city and Skibbereen.

The company sold holidays in Ireland to tourists in the US, Canada, France, Japan, England and Germany.

In a statement, the company said it had suspended trading activities due to the loss of key merchant account facilities and the impact this had on its cash flows.

Management said it deeply regrets the decision to cease trading.

The firm said it had tried but failed to secure access to bridging finance.

Customers are advised that bookings should “still be held by the supplier, however it will need to be paid directly to the supplier.

“You are also advised to contact your credit company in relation to payments made to myguidetravel,” the statement said.

The company says that the 500 people who are currently using their services will be able to travel home.

However, the firm said that about 50 people may have other segments of their trips affected and that it is doing everything it can to help them.

Customers are being advised to contact their credit card providers with regard to any booking they may have made with the travel firm.

The company was established by three friends as 1 2 Travel and made over a IR£1 million in sales in its first year of operation in 1998.

A freephone helpline – 1800-927313 – has been set up to deal with customer queries.