Cox & Kings-owned booking website, travel firm in the UK shut down

Cox & Kings-owned booking website and travel firm in the UK have shut down leaving hundreds of customers in a lurch. The tour operator has been facing a cash crunch leading to loan defaults and this has triggered the closure of its two business units in UK. 

According to UK media reports, booking website LateRooms and holiday firm Superbreak ceased operations on Thursday after their parent, Malvern Group, declared insolvency. Cox & Kings, which owns 49 per cent stake in the Malvern Group, did not comment on the development. However, it informed the exchange about the payment default on Rs