20-07-2011

Tour Operator Dream Holidays Collapses

Dream Holidays Logo

Greece and Cyprus specialist Dream Holidays collapses, with 1,800 holidaymakers losing out on holidays.

The holidaymakers will be refunded under the company's ATOL, however any holidays booked in advance cannot be taken.

Over 500 Dream Holiday customers are currently still abroad, who will be able to complete their holidays and fly home as planned. However, the CAA announced some might have to pay for their accommodation, and then claim refunds once they are home.

The company was set up by former Libra Holidays boss Akis Kyprianou and celebrated its first birthday on 1st April this year. In a statement, Kyprianou said:

"The company experienced adverse trading conditions in the last month with fierce price competition from well established travel companies which made it impossible for us to compete and to continue trading without incurring further losses and liabilities, in what we believe to be an exceptionally weak market and an unsustainable business environment"

Alexander Lawson Jacobs have been appointed as liquidator to the company.

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