{"id":447772,"date":"2020-11-11T16:21:00","date_gmt":"2020-11-11T14:21:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=447772"},"modified":"2020-11-11T16:21:00","modified_gmt":"2020-11-11T14:21:00","slug":"collapsed-travel-agency-sta-travel-owes-millions-to-customers-and-staff","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/447772\/collapsed-travel-agency-sta-travel-owes-millions-to-customers-and-staff\/","title":{"rendered":"Collapsed travel agency STA Travel owes millions to customers and staff"},"content":{"rendered":"<p>The\u00a0<strong><a href=\"https:\/\/www.groundup.org.za\/media\/uploads\/documents\/preliminary_report_to_creditors_sta_travel.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">first report<\/a><\/strong>\u00a0by the provisional liquidators of STA Travel paints a grim picture of the defunct travel agency.<\/p>\n<p>STA Travel was placed in liquidation on 30 September, following the submission of a special resolution to the Companies and Intellectual Property Commission (CIPC).<\/p>\n<p>On 13 October, GroundUp\u00a0<strong><a href=\"https:\/\/www.groundup.org.za\/article\/employees-and-customers-left-lurch-swiss-owned-sta-travel\/\" target=\"_blank\" rel=\"noopener noreferrer\">reported<\/a><\/strong>\u00a0on the chaos that followed the collapse of the company.<\/p>\n<p>Shortly after publication, on 16 October, an official of the Masters of the High Court confirmed to GroundUp that a liquidation application had been launched in Cape Town.<\/p>\n<p>On 28 October, Jurgens Steenkamp and Cheryl Jones from JJS Administrators were appointed as provisional liquidators.<\/p>\n<p>According to their first report, a hold has been placed on STA Travel\u2019s accounts by the liquidators.<\/p>\n<p>Its total assets amount to R3.7 million, while its liabilities total R213.5 million, including R2.1 million owed to about 200 employees. Approximately 27,000 customers are owed an estimated R91 million.<\/p>\n<p>According to the liquidators\u2019, the next step in the liquidation process is for the Masters of the High Court to convene a meeting of creditors and shareholders. This meeting would finalise the appointment of liquidators and submission of proof of claims.<\/p>\n<p><em>Written by\u00a0<strong><a href=\"https:\/\/www.groundup.org.za\/author\/464\/\" target=\"_blank\" rel=\"author noopener noreferrer\">James Stent<\/a><\/strong><\/em><\/p>\n<p><em>This article was first published on GroundUp. You can read the original article\u00a0<strong><a href=\"https:\/\/www.groundup.org.za\/article\/little-prospect-of-relief-for-sta-travels-burnt-customers-and-employees\/\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a><\/strong>.\u00a0<\/em><\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/trending\/447472\/warning-of-major-job-losses-and-economic-decline-if-harder-lockdown-makes-a-comeback-in-south-africa\/\" target=\"_blank\" rel=\"noopener noreferrer\">Warning of major job losses and economic decline if harder lockdown makes a comeback in South Africa<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0first report\u00a0by the provisional liquidators of STA Travel paints a grim picture of the defunct travel agency.<\/p>\n","protected":false},"author":68,"featured_media":262467,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[26,12376],"class_list":["post-447772","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-headline","tag-sta-travel"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/447772","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/68"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=447772"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/447772\/revisions"}],"predecessor-version":[{"id":447780,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/447772\/revisions\/447780"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/262467"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=447772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=447772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=447772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}