FIGURES from the collapse of SA wholesaler Venture Far indicate creditor claims worth over $500,000 when the business was placed into administration last year (TD 24 Oct 2018).
The business traded as The Venture Holidays SA Unit Trust, with the trustee company Clenton Pty Ltd having two directors: Ian Garritt and Robert Mackay.
Records now available from the Australian Securities and Investments Commission indicate after about $264,000 owed to 15 staff, Clenton’s major creditor was Helloworld Travel Limited.
Moneys owed include $147,751 claimed by Magellan Travel Pty Ltd, along with $24,761 due to Helloworld Services Pty Limited.
A related company, Magellan Travel Group Pty Ltd, is owed $7,108, the report notes, while Helloworld offshoot Tourism Transport Fiji Ltd is owed $5,664.
Other industry creditors include Tourism Technology Pty Ltd with a $8,758 debt, while just under $500 is owed to Toll Brochure Flow and Templar Distribution.
AFTA CEO Jayson Westbury last year (TD 24 Nov) said the collapse of the former Magellan Travel Group member resulted in payments of over $12,000 to agents participating in the AFTA Chargeback Scheme under its supplier failure coverage benefit.
Source: traveldaily