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Bankrupt Preston Travel pens heartbreaking letter to North Finchley customers
Preston Travel, which has had a shop in North Finchley High Road for more than 60 years, went out of business earlier this month
A bankrupt travel company penned a heartfelt letter to its customers when it went out of business, blaming high street rents and parking restrictions.
Preston Travel in North Finchley High Road ceased trading earlier this month after more than 60 years as a member of the Association of British Travel Agents.
The firm specialised in holidays to the Channel Islands but said it had “no alternative” but to close, resulting in the loss of around 30 jobs.
A notice in the window of the shop signed by the directors, management and staff gave an insight into the struggles faced by the business over recent years.
It read: “We very much regret to advise you that we have ceased trading with immediate effect.
“Over a period of time, the cost of rent and rates associated with our high street premises have risen inexorably, and at a faster rate than we could match with new business.
“The more recent parking restrictions, along with difficult trading conditions over the last four years whilst we have been in the grip of a financial squeeze, has taken its toll.
“It is sad, given that our company was amongst the founder members of the ABTA (Association of British Travel Agents) in the 1950s and that we have been in business well over 60 years, to find ourselves no longer able to serve customers who, in so many cases, have become personal friends.
“We have valued your custom and have always sought to serve you to the best of our ability.
“We know that you, like us, will be disappointed with this news, but the present economics leave us with no alternative.”
The Times Series has been unable to contact anyone from Preston Travel since the closure.