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£26m paid out as Britons hit by holiday collapses in

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In another tempestuous year for holidaymakers, almost 74,000 Britons have been hit by the collapse of travel companies in 2011, leading to £26 million being reclaimed.

A study by comparison website Kelkoo showed that 24 holiday firms went out of business over the past 12 months, with people waiting an average of four months for a refund.

The figures are a slight improvement on 2010, when 29 travel companies failed, hitting 189,000 people and sparking £47 million in compensation claims.
Disruptions: Less holidaymakers were affected by travel company failures in 2011 than 2010
The average claim has increased by 41 per cent per person from £250 last year to £353 in 2011, with more long-haul specialists failing recently.

And almost one in 10 travellers have missed out on compensation payments after failing to submit legitimate claims.

The biggest failures this year happened in the peak holiday season when bookings and deposits were at their highest.
One of the most significant companies to go bust was Holidays 4U, a Turkey specialist that left nearly 13,000 people stranded abroad went it went into liquidation in August.

There were also fears over tour operator giant Thomas Cook, which was forced to renegotiate loans with its banks twice within two months to deal with its mounting debt. It is now restructuring the business.

From the Dailymail…….

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