Seligo in administration

The Seligo holidays parent company Unpackaged Holidays has gone into administration, following poor trading figures.

Seligo offered accomodation only deals to the trade.. And is in fact no great loss, if any new company rises from the ashes of this one then it must be looked at with suspicion.

Administrator Conrad Beighton, of chartered accountant Shipleys, confirmed the company Seligo Unpackaged holidays went into administration on Tuesday March 17 following an application last week.

A pre-pack sale can be used by a company experiencing financial difficulties to save the business and secure jobs.

It involves a sale of the business and assets to a third party, existing management or so-called phoenix company, which is often set up and managed by existing directors or management prior to the appointment of an administrator.

Seligo was bought in February 2008 by The Unpackaged Group, part of Alpha Prospects, which has ABTA director Steven Freudmann as non-executive chairman. Freudmann stepped down as director of subsidiary Unpackaged Holidays last week, claiming a conflict of interest.

ABTA has confirmed that Seligo are no linger ABTA memebers and are appealing after being fined by ABTA’s code of conduct committee for an unspecified breach.

The hearing is due to be heard on Thursday March 19.