Tourism Holdings looks to snaffle failed Pacific Horizon customers
But the Auckland-based company will not buy or lease any of the 260-strong fleet.
Tourism Holdings, the rental campervan operator which merged with two rivals last year, has told the receivers of Pacific Horizon it is available to pick up any customers left out in the cold, but will not buy the failed firm's assets.
The Auckland-based company has already approached KordaMentha's Brendon Gibson and Grant Graham, who were appointed receivers of Pacific Horizon yesterday, to help the rival company's customers, it says in a statement. But Tourism Holdings will not buy or lease any of Pacific Horizon's 260-strong fleet.
"With the largest range and fleet size in the industry, THL is in the best position to assist," chief executive Grant Webster says. "We will look to offer customers as close to an equivalent product and price as we can."
Tourism Holdings cut annual earnings guidance in February after posting a small first-half loss, citing tough trading conditions across the Tasman. Its shares were unchanged at 60 cents yesterday, and have dropped 13 percent this year.
It merged with two rivals last year as the wider sector struggles in a moribund global economy and the strong kiwi dollar erodes the attraction of New Zealand as a destination for long-haul travellers.
The company dismissed speculation the rival Pacific Horizon fleet will be dumped on the market in a fire sale, and that the financiers will seek the best price.
(BusinessDesk)
Paul McBeth
Wed, 11 Jul 2018
Wed, 11 Jul 2018
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Tourism Holdings looks to snaffle failed Pacific Horizon customers
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