ReSolve appointed administrators of Luxtripper

It comes after Luxtripper announced a suspension of trading as it attempted to secure an accelerated merger and acquisition.  

Commenting on the appointment, Farrington said: “Despite some of the highest interest we’ve seen from potential bidders, unfortunately the current investment climate meant that a rapid rescue of the business that secured the jobs of Luxtripper’s employees was not achievable.  

“ReSolve will now be focused on achieving the best possible results for creditors, including finalising the asset sale, and supporting employees through the redundancy process.” 

Luxtripper founder and chief executive Nena Chaletzos added: “We are devastated to be announcing this news. The team have worked tirelessly to find a sustainable solution for our business, but it is with heavy hearts that we have had to choose this option as the only path forward.

“We are committed to managing this process transparently and responsibly, ensuring that our stakeholders’ interests are safeguarded, and our incredible team is supported to the best of our ability. We are eternally grateful for the support of our employees, customers and partners throughout our journey.”