Switzerland: In a statement issued by STA Travel Holdings, the firm announced it has appointed an external administrator to help determine the next steps.
STA Travel Holding AG in Switzerland, the parent company, filed the noticed. It is unclear whether local STA branches are affected, though the company advised that operations around the world may continue.
The statement read: “Over recent months, the company took decisive measures to secure the business beyond COVID-19. 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.”
It continued: “STA Travel Holding AG very much regrets to not have been able to secure the future of the business under these unprecedented circumstances.”
Earlier this year in April, the company was hit with a $14 million penalty for false or misleading adverts about its MultiFLEX Pass product.
STA Travel UK said that each division’s country manager and leadership team will be reviewing its own position. Further information will be confirmed as soon as finalised.
