STA Travel Agency Ceases Operations After Swiss Parent Company Files For Insolvency
University students who went on exchange or overseas programmes might be familiar with STA Travel, which has outlets on campuses and offers great travel deals.
However, the travel agency has since wound up, affecting nearly 700 customers who they apparently owe money to.
STA Travel closure affected 682 customers
According to The Straits Times (ST), the largest sum the agency owed its creditor amounted to $84,088, while the smallest was $7.
682 customers are currently listed as creditors, comprising mainly university students.
Besides individuals, ST reports that the travel agency also owed funds to educational institutions like:
- National University of Singapore (NUS)
- Nanyang Technological University (NTU)
- Singapore Management University (SMU)
- Republic Polytechnic (RP)
STA Travel reportedly ceased operations on 9 Sep after its parent company in Switzerland became insolvent in August.
Creditors have to submit documents by 30 Sep
A notice by auditing firm Deloitte and Touche stated that creditors would have to provide proof of the debts STA owed them, reported ST.
These would also have to be substantiated by other documents such as invoices or payments to the agency. Such documents would have to be submitted by Wednesday (30 Sep) noon.
One customer interviewed by ST, however, was pessimistic about the refund, stating that there were no “instructions or assurances” on the notice.
All creditors were reportedly notified last Thursday (24 Sep). Those who have yet to receive the notification may seek help from the provisional liquidators’ office.
STA Travel had stores in NTU, NUS, and SMU
Since 1 Feb, 22 travel companies have ceased operations. However, STA Travel was the only agency which closure had affected customers.
Prior to its closure, STA Travel had outlets in NTU, NUS, and SMU.
Hope affected customers will receive fair compensation
It’s certainly distressing to hear about STA Travel’s ‘demise’, and we hope all affected customers will receive fair reimbursement.
STA Travel’s closure is yet another reminder of the severe blow Covid-19 has dealt to the travel industry.
With travel restrictions still in place in many countries, we can only pray for a vaccine to be found soon so transboundary travels can resume.
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