Travelzest wins another week of breathing space

Travelzest has won further time to find a solution to its long-term debt crisis.

Travelzest has won further time to find a solution to its long-term debt crisis.

The online travel group confirmed today that its primary lending bank has agreed to extend its on demand working capital facility until October 14.

Lender Elleway Acquisitions had previously extended it by a week until today (Monday).

Travelzest said this morning: “This is notwithstanding the fact that the company is in regular contact with its primary lender and must continue to comply with its obligations under the existing and new working capital facility arrangements and that the loans and facilities are still capable of being demanded at any time.

“Consequently, the company continues to be solely reliant on the support of its primary lender in order to continue to trade. A further announcement will be made in due course.”