Parker Andrews has confirmed the successful sale of Harrison Holidays to adventure travel group OzBus Tours.
A well-executed marketing campaign ensured Parker Andrews were inundated with bids for the travel group, with dozens of bids and a shortlist of five formal offers.
Negotiations continued with two bidders until Monday 16 January 2012 when OzBus Tours successfully secured the acquisition of the business.
The sale may even now mean that creditors of Harrison Holidays could yet be paid in full, although the sale is projected to complete at between £100,000 and £200,000.
In addition, as a result of trading the business during administration and operating holidays that would have otherwise been cancelled, Parker Andrews has reduced the claims from customers by approximately £200,000.
OzBus will honour customer payments received prior to the company entering administration for tours. If any holidays are not run due to a lack of customer bookings, OzBus will offer customers that had booked a place on an alternative holiday of their choice.
OzBus Tours is owned by Brisbane-based Daryl Jones, who has operated coach holidays in Australia for over 40 years. The UK operations, based in Cambridgeshire, are run by operations manager Stephen Nattrass.
OzBus intends to contact the former employees of Harrison Holidays to discuss positions that may be available with the new business.
OzBus Tours Ltd was formed in September 2011 to purchase another failed holiday operator, Oz-Bus UK Limited, which was placed into liquidation in August 2011.
OzBus operates epic overland tours from London to Sydney and the only commercial fully overland trip from London to New York, as well as a growing selection of trips of all lengths across South America and Africa.
OzBus is looking to quickly arrange additional tours under the Harrisons brand for the rest of 2012.
Parker Andrews were assisted by Frank Brumby and Simon Loome, partners of Norwich and London solicitors Isadore Goldman.
By Joe McGrath