Roamfree Placed in Voluntary Administration

Roamfree founder Tony Smith

Roamfree founder Tony Smith

The Gold Coast Bulletin reports that former online travel high-flyer Roamfree was placed  into voluntary administration late yesterday after it failed to reach a debt-servicing agreement with its noteholders.  Ferrier Hodgson's Tim Michael and Will Colwell have been appointed to take control of the company. The group's subsidiary trading companies, BookEasy Pty Ltd, Roamfree Pacific and majority-owned Tourism Technology, are not affected, the paper said. Roamfree, now run by Mark Frawley, has rarely been out of the news since it was founded by flamboyant entrepreneur Tony Smith, who reprised the 1980s by splashing cash around and buying an extraordinary range of companies in a short period of time. Smith left the company last year after his personal fortune collapsed under the weight of debt combined with the stockmarket crash.

Story at: http://www.goldcoast.com.au/article/2009/08/25/111495_gold-coast-business.html

Share and Enjoy:
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • Live
  • NewsVine
  • Reddit
  • StumbleUpon
  • Technorati
  • Tumblr
  • TwitThis

Related posts:

  1. Roamfree Sacks 50 Staff But Wants To Buy More
  2. Roamfree.com Boss Tony Smith Liquidates Assets
  3. Roamfree Companies Sold Back To Founder
  4. Tony Smith Hits Back At Claim
  5. Roamfree.com Gets On Bike For Tour de France

Ad- Sabre Travel Trends 468x60 Jan 2012

Tags: , , , ,

1 comment

  1. yeah – i guess the hype around roamfree was epitomised in the pledge made back in 2007, to spend $20mil sponsoring an Australian Tour de France team. media ran with it with it all though.

    http://www.traveltrends.biz/ttn30-roamfreecom-gets-on-bike/

Comments are now closed.

Ad - Laterooms.com Oct 31 2011

Ad - Travelzoo, 120x240

Ad - Wego jpeg 120x240_s04

Get Adobe Flash player

Get Adobe Flash player


Get Adobe Flash player