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Business Recovery & Insolvency

Duff & Phelps appointed Administrator to Travesse Lifestyle Limited

By CreditMan Monday, October 15, 2012

Andrew Stoneman and Paul Williams, both of leading global financial advisory and investment banking firm Duff & Phelps were appointed Joint Administrators of London based specialist luxury travel website company Travesse Lifestyle Limited on 5th October 2012.

Previously known as Flash Sales Ltd., Travesse Lifestyle Ltd owns the exclusive, members-only luxury travel site www.travesse.com in the UK, as well as www.thetraveleditor.com, a leading source for travel-specific editorial content.

The company’s flagship offering in the USA is Perfect Escapes and in addition, Travesse Lifestyle's portfolio includes the private-sale luxury travel site Spire, boutique hotel and villa specialist Chic Retreats, UK-focused Travel Intelligence, and luxury lifestyle curator Suzanne’s Files.

Travesse Lifestyle Limited bought the US Perfect Escapes site network, alongside Starfish Interactive (www.starfishinteractive.com/), a proprietary online booking engine and inventory-management system for luxury travel, in March 2012. Besides powering the company's own brands, Starfish also partners with top travel sites including Condé Nast Traveller (UK), Red Online, Room for Romance, Luxique, and Luxe City Guides.

Andrew Stoneman, Joint Administrator, stated: “We have been running an extensive marketing campaign over the past ten days with a view to selling the business and assets of the company. It is with regret that we have not been able to do this within the tight fiscal position the company is in. Therefore the decision was taken to put Travesse Lifestyle Limited into Administration whilst we continue the search for a new owner,”

“A number of interested parties have stepped forward and we are looking forward to continuing those discussions in the next few days. We would urge anyone with an interest in the luxury travel sector to get in contact with Duff & Phelps at the earlier opportunity.”