Jasons Travel Media asks bank to appoint receiver

Thu, 28 Nov 2013

By Paul McBeth Nov. 29 (BusinessDesk) - NZAX-listed Jasons Travel Media, the travel and accommodation guide publisher once led by Cabinet Minister Steven Joyce, has told its lenders to appoint a receiver as the company’s financial position deteriorates with little sign of reprieve. Jasons Travel was in talks with its lenders earlier this year after breaching its banking covenants, and secured an extension on its loan at the end of May while making a commitment to raise at least $1 million by the end of October to repay debt. Its $650,000 ove...

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