A SUBSIDIARY of failed travel company Cyberes has been sold to The Travel Company Limited.
Cyberes, in Harrogate, North Yorkshire, went into administration last week, causing chaos for thousands of travellers booked on flights over the coming months.
The group blamed cashflow problems that meant it did not have enough money to meet its monthly licence payment to the International Association of Travel Agents.
Corporate Travel International, an off-shoot based in Hull that employs 120 people, was sold by joint administrators Steve Ellis and Ian Stokoe of Pricewaterhouse-Coopers.
Corporate Travel International Limited includes the Flightshop business and operates seven branch offices across the North of England, including York, which provide travel services to the corporate, retail and Internet travel markets.
Mr Ellis said: "We are delighted to conclude a sale of the business so swiftly, in circumstances where clients had an ongoing need for service and hence a limited period in which to remain loyal to the business."
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