Hari Aum - Asian holiday specialists to be wound up

Press Release from Quantuma

Asian holiday specialists to be wound up

Corporate recovery specialists Quantuma have been brought in to oversee the winding up of a north London travel agency that specialised in the Asian market.

Hari AUM Holidays, based at 560 North Circular Road, London, had been hard hit by the slump in currency values following the Brexit vote.

Nick Simmonds and Chris Newell of Quantuma’s Watford office were appointed liquidators to AUM plc, trading as Hari AUM Holidays, on Friday, 30 September.

Nick Simmonds said: “The business was popular with Asian holidaymakers in the Neasden, Harrow and north London area generally.

“It provided specialist tours for Asian customers who wanted to enjoy holidays with appropriate food and entertainment.

“The business had been losing money and trading in difficult conditions, and the owners had supported the company with a significant six figure sum.

“But when the value of sterling against the dollar dropped 20 per cent immediately after the referendum vote, it was the final straw, with holidays already booked becoming very expensive virtually overnight.

“However, the business is ATOL bonded and we are hopeful that most customers will have their claims dealt with in time, although we appreciate the disappointment this will cause to many customers.”

Customers requiring further information can contact claims@caa.co.uk

Ends

For further information, please contact:

Andy Skinner, Managing Director, ASAP PR – 07990 978257

or

Marie Wadeson, Head of Marketing,

Quantuma LLP, Vernon House, 23 Sicilian Avenue, London, WC1A 2QS

Tel: 07464 545678

www.quantuma.com

 

Notes to Editors

Quantuma LLP is a leading restructuring and insolvency practice delivering partner-led solutions to businesses and individuals facing financial distress with offices in London, Southampton, Marlow, Watford, Brighton and Bristol.