TravelBrands Signs New Deal With Sears Travel

Open Jaw

There are few details at this time, but TravelBrands is informing trade partners that it has reached a new agreement with Sears Travel.

The company, comprised of ten tour operator wholesale and five retail travel brands, sought protection Companies' Creditors Arrangement Act (CCAA) on 27MAY. Its deal with Sears Travel, as well as the expensive lease on a downtown Toronto office building were cited as two of the major factors behind the company seeking protection.

 TravelBrands recently obtained an extension of the stay of proceedings, granted by the Ontario Superior court of Justice, to 17AUG, 2015.

 

At the time, CEO Frank DeMarinis said: "We continue to make excellent progress towards our desired outcome for this restructuring process, while ensuring that our efforts in no way impact our valued wholesale and retail customers.

 

KPMG is the court-appointed monitor. Word is that it will issue a new report on the company’s situation within a few days.




monica - July 19, 2015 @ 19:07
who believes in karma?

Sheila Little - July 18, 2015 @ 12:07
Love Intair, Network and Holiday House!!!
And Sunquest has great pricing right now:)

Lillian - July 17, 2015 @ 14:07
We are still supporting you guys, as no one can match your service and convenience of booking when it comes to Net airfares.

Tom - July 17, 2015 @ 11:07
Way to Go Travelbrands!
As soon as they are out of CCAA Holiday House will get the majority of my bookings! It's been a tough couple of months. The other guys are much more difficult to book....


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