Is Vantage Travel In Financial Trouble: Vantage Travel’s Financial Health

The company Vantage Deluxe World Travel as it says, Searching for a new owner to buy the company.

Is Vantage Travel In Financial Trouble, this business based in Boston is in hot water for several months. After lots of customers made complains after refunds was locked up for trips postponed. The company sent an internal memo (obtained by consumer rescue). Secretly to their employees that August 28 trips has been postponed.

This was an email sent by Vantage General Counsel Rossella Mercuri to Boston 25.

“We are currently engaged in sensitive negotiations for a sale of the company. Our primary goal is to obtain the best outcome for our customers. Confidentiality agreements governing our negotiations prevent us from commenting further at this time,” 

According to the Mass. Attorney General’s office, 793 complaints was received since the year 2020, Jan. 1. Which also includes 156 complaints which was filed in early 2023.

Vantage employees lost their healthcare coverage and are having critical issues with their payment, according to a Boston 25 tipster. Several internal memos was pushed from him detailing timecard problems and the loss of benefit provider Insperity.

“No deductions will be made for Medical/Dental/Vision/Transit/FSA/HSA,” a June 8 employee memo said. “We are working on securing alternate benefits and will update once confirmed.”

The founder of Consumer Rescue Michelle Couch-Friedman made it clear that she’s been in contact with Vantage employees. Who are worried about their jobs and the method that Vantage is currently conducting business. She also made it clear that a worker complained about their anticipated paychecks Friday.

“They are as distraught as the customers,” Couch-Friedman said. “What I’m hearing are stressed-out employees who are bearing the brunt of whatever’s happening at Vantage.”

The company is still paying its employees, said by Mercuri.

“Vantage has timely paid and will timely pay all amounts due to employees.” This was said when she was making her statement

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Customers become unsecured creditors:

The consumers trying the recover their money they have paid for the trips. That have been canceled are considered unsecured creditors.

The company checked a box that read it had between a total number of 10k+ to 25k creditors. In the process of the filing. It also checked the box that read it would have no refunds available to offer unsecured creditors, after administrative expenses were paid.

Who Is The possible new owner:

The the process of bankruptcy filing. The company respectfully asked the court to grant them permission to sell the company and its all assets. Comprising of the name of the brand the list of passengers to an affiliate of the Heritage Expeditions. Nordic Hamburg for one million dollars($1,000,000.00).

For more info about the buyers, Heritage Expedition is a medium , New Zealand based expedition cruise company. Nordic Hamburg on the other hand is a ship management company.

The company made it clear in the filing. That it would classify customers deposits up to a maximum amount of three thousand, three hundred and fifty dollars($3,350.00). Per individual as well as some few other obligations it owned to unsecured creditors. Including the backpay to employees. this would be settled during the bankruptcy procedure.

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