While 2025 brought with it the high-profile bankruptcies of airlines such as Play and Spirit Airlines, many companies running tours and travel packages faced an even tougher time due to lower demand and high number of competitors operating in given markets.
In June, British travel company Great Little Escapes was stripped of its license to operate after reporting sustained losses for the two previous years.
Fellow British competitor Jetline Holidays had similarly closed down operations a few weeks earlier, while Swedish tour provider MixxTravel was declared bankrupt by a judge at the end of July.
As part of the order to shut down operations, the latter company had to cancel both future bookings and, in some cases, tours that were already halfway through.
According to the owners, at least 1,200 travelers were abroad at the time of the bankruptcy and had to be brought back using 28.4 million Swedish kronor ($2.93 million USD) in security guarantees from the bankruptcy proceedings.
The latest tour operator to land in bankruptcy proceedings is the expedition cruise line Exploris Expeditions & Voyages. Based out of Nantes in France, the cruise operator was placed under receivership by a local judge.
In what is the equivalent of Chapter 11 in the U.S., French bankruptcy law allows companies unable to manage their debt to continue operations as they look to restructure.
Struggling cruise line files Chapter 11 bankruptcy
