A South Australian travel agency with debts of almost $1.6 million collapsed with just $57 in its bank account.
Champion Travel was run by the former chairman of the Adelaide 36ers basketball team, Malcolm Simpson, and had been a successful company prior to its demise, the Adelaide Advertiser reported.
But the writing was on the wall for the Adelaide business when the Australian Federation of Travel Agents (AFTA) cancelled the company’s ATAS participation earlier this year.
Aussie basketball legend Brett Maher, who is involved in a sports tour company, is one of a number of people owed thousands of dollars.
According to its website, Champion Travel organized “comprehensive travel arrangements for major corporate clients and individuals, stages conferences, exhibitions and corporate events plus offer [sic] golfing holidays and incentives within Australia and around the world”.
The sports-based travel business was founded in 1991.
The demise of Champion comes just weeks after a Gold Coast travel agency reportedly fleeced nearly 50 people, including many pensioners, after it failed to pass on payments to suppliers.