Top ski chalet company folds with huge debts

News at Gatwick 31/08/2009

Ryanair to close Manchester routes : August 2009 : British Airways to cut cabin crew

Descent International collapses

A ski chalet company popular with the rich and famous, Descent International, has gone into voluntary liquidation. The company has left many creditors, including the Duke of York, out of pocket.

The company operates some of the most luxurious chalets and rents ranged from £15,000 to £55,000 per week. The chalets in the Swiss and French Alps have attracted advance bookings and many will not receive a penny when the company finally folds. There are a minimum of 40 bookings outstanding with deposits of £450,000 already banked. The company did not need to be part of a Government approved bonding scheme as it did not offer flight inclusive packages, the deposits were not paid by credit card and so the money paid will be lost as the company did not own any of the chalets and has few assets.

Another chalet operator Scott Dunn, has offered travellers who have booked into one of Descent’s chalets alternative holidays where it can at discounted prices. Some of the owners of the chalets used by Descent have decided to set up alternative companies through a co operative with the help of some of Descents staff.

Ryanair to close Manchester routes : August 2009 : British Airways to cut cabin crew

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