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Economy update: Big travel company to shut down with all holidays CANCELLED

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A major British travel company is shutting it doors with all holidays booked via its service set to be cancelled in a blow to holidaymakers.

Balkan Holidays, which has operated for nearly 60 years, is closing down just before the summer holiday season.


Current holidaymakers currently will be able to complete their vacations, but with upcoming bookings will instead be made to accept refunds.

This will likely leave families with set holiday plans looking for last minute routes for their destinations.

Upset family and person with suitcase

A major UK travel company is shutting down with all holidays cancelled

GETTY

Direct customers have been asked to contact Balkan Holidays to arrange refunds, however expectant travellers who booked trips via a third party will need to speak to their travel agent to get cash back.

The firm is known for offering vacationers holidays to Bulgaria, Croatia, Montenegro, Slovenia, Malta and Northern Cyprus.

It has stated it is aiming to process refunds as quickly as possible, working in order of customer departure dates.

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