Polestar advised on Travelzest plc’s existing debt facility with its current lending bank Barclays Bank plc to amend the terms and provide it with a £16m debt package.
Despite the difficulties affecting the wider travel sector, Travelzest was in a strong position to capitalise on the excellent growth it continued to experience in its core Canadian market. Whilst the Company’s UK operations, which represent only a very small part of the overall group, continue to experience a challenging environment, the business is now well placed to consolidate its position in the market.
Richard Hall worked closely with Jack Fraser, the Chief Financial Officer, to agree a structure allowing the board greater flexibility in the management of the business, thereby facilitating certain planned operational improvements.
