Lowcost Group – reason for collapse still unknown
Administrators appointed following the collapse of Lowcosttravelgroup last summer owing tens of millions of pounds have still to establish a cause for the company going under.
The latest progress report by administrators at Smith & Williamson says an investigation is continuing into the business and its various trading arms.
Total claims received against against lowcosttravelgroup alone amount to £98.7 million, the report reveals.