Creditors owed more than $5 million by STA Travel

Fri, 04 Sep 2020

STA Travel owes creditors more than $5 million, and the amount is expected to grow. About 200 creditors of STA Travel attended the first creditors’ meeting held by administrator Deloitte on Thursday. The New Zealand arm of STA Travel was placed into voluntary administration on Aug. 25, after its Swiss parent company STA Travel Holding AG also appointed administrators. The business had 60 staff and 11 locations in NZ. Deloitte’s David Webb and Colin Owens said, given the failure of the parent, it was determined the NZ companies were...

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