Travelex shuts down UK outlets

Travelex shuts down UK outlets

Travelex is to shut all of its UK foreign exchange bureaus for around eight weeks in light of the coronavirus outbreak.

The closure of the currency exchange operator's outlets follows the imposition of strict social distancing measures by the UK Government to contain the spread of Covid-17.

It represents the latest in a series of devastating blows to the company, which earlier this year suffered a ransomware attack that knocked out its services for several weeks. The firm has also been buffeted by the discovery of financial irregularities at its parent company Finablr, which has had its share suspendend amid "material uncertainty" about its ability to continue as a going concern.

In a statement, Travelex says: "Travelex has taken the decision to temporarily close all UK bureaus effective from Tuesday 24th March 2020. The time scale for bureau closure is currently anticipated as 8 weeks, however with the uncertainty around Covid-19, there is a possibility that this could continue over a longer time period."

It is understood to be in discussion with stakeholders about continued access to funding sources.

Comments: (1)

Craig Lawrance
Craig Lawrance - Starkspur Ltd - Chalfonts 27 March, 2020, 12:15Be the first to give this comment the thumbs up 0 likes

Didn't realise it had re-opened!