Up to 15,000 Irish affected as budget travel firm folds

Up to 15,000 Irish holiday-goers have been affected by the closure of a budget travel operator.

On Friday, UK company Lowcostholidays announced it was entering receivership “following exhaustive attempts by the group’s directors to rescue the group, which has been hampered by the recent and ongoing turbulent financial environment”.

Administrators Smith & Williamson said the development affects approximately 27,000 customers currently in resorts and some 110,000 customers who have booked upcoming travel/holidays through the group.