Business

STA Travel falls into administration affecting 52 shops in the UK

Mark Shapland
20 August 2020

Student travel firm STA Travel has filed for insolvency and become the latest coronavirus High Street victim.

Parent company, STA Travel Holding AG which is based in Switzerland, said that that an external administrator would be taking control of the company.

STA did not elaborate what the immediate future for the company would be, although some operations around the world are understood to be continuing.

The company has 52 shops in the UK.

STA blamed the coronavirus pandemic, stating that it had "brought the travel industry to a standstill".

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The company said: "Over recent months, the company took decisive measures to secure the business beyond coronavirus. However, sales have not picked up as anticipated, due to consumer uncertainties, further restrictions and renewed lock-down measures, which are expected to largely continue into 2021.

"As a consequence, STA Travel Holding AG, is filing for insolvency. In the next few days, an external administrator will take over and determine next steps

"While the parent company STA Travel Holding AG in Switzerland is affected, local day-to-day operations by STA Travel may continue around the world. STA Travel Holding AG very much regrets to not have been able to secure the future of the business under these unprecedented circumstances."

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