Travelzest issues deadline for bid from Canadian agency

Travelzest has disclosed the identity of a possible Canadian suitor for the business.

The parent company of operators including Peng Travel, Captivating Cuba and Best of Morocco said it was in the “very early stages of discussions with Red Label Vacations in relation to a possible offer for the company”.

Any offer by Canadian travel agency firm Red Label is likely to be solely in cash, the company said.

Travelzest, which owns Canadian online travel agency added that the discussions may or may not lead to an offer.

Red Label has been given a deadline of October 17 to make an offer for the UK-based travel business. “A further announcement will be made in due course,” Travelzest said.

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