The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Administrative Services Travel Agency, Tour Operator And Other Reservation Service And Related Activities Travel Agency, Tour Operator And Other Reservation Service And Related Activities 79 - Travel agency, tour operator and other reservation service and related activities
172 jobs Number of planned job losses
Announcement Date
25 November 2009
Employment effect (start)
26 November 2009
Foreseen end date
Description
In a sign of the recessionary times in Ireland, Budget Travel, the country's largest tour operator has ceased trading with the loss of all 172 jobs and the closure of 17 shops. In a statement, the company said it had applied to the High Court to have the company placed into provisional liquidation. The company commented that the travel industry in Ireland is facing massive pressure from a sharp and sudden collapse in demand this year.
Sources
26 November 2009: The Irish Times
Citation
Eurofound (2009), Budget Travel, Bankruptcy in Ireland, factsheet number 69923, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69923.
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