IOX Tour: small loss of €100,000 for APST

The financial losses of IOX Tour, placed in judicial liquidation by Lyon’s Commercial Court on Thursday October 1st, 2015, should not be major.

According to our informations, the amount of the services to refund by the APST on this case would amount to €100,000.

Summoned to the association’s headquarter on Wednesday, October 7th, 2015, Jérémie Gossart, its founder, showed up to the meeting. He took the opportunity to explain the reasons behind his company’s default.

The issue would pertain to a cash shortfall of around €200,000 to €250,000 that would have led the company to declare itself in suspension of payments, early June 2015, and to then be placed under court-ordered liquidation.

A lack of cash flow that would have prevented it from paying the seats for the games of the Rugby World Cup included in the packages sold around the competition currently taking place in Great Britain.

A priori, almost all of the other services (air transportation, hotels, transfers…) would have been paid for by IOX Tour.

We only heard about one case of problems linked to having to repurchase hotel nights at a price now 3 times higher than the one offered at the time of the initial reservation from the agency, a few months back.

APST will thus need to refund the tickets for the rugby games that have not been issued. But, based on our information, the Association has extensively enough counter-guarantees to cover the amount of these losses.

The company Voyages Adaptés, that provides touristic services to people will a handicap, also led by Jérémie Gossart, will be able to maintain its activities. Its financial situation is solid.