An Australian company specialising in telecommunications products and services for international travellers will be wound up, with some of its assets having already been sold off.
TravelSIM Australia has been offering a relatively cost-effective mobile service for international travellers through its TravelSIM product since 2006, and more recently diversified its mobile service to a local sim product called FlexiSIM.
Both products are rechargeable services that work with existing handsets by providing a new Australian mobile number on a SIM card.
TravelSIM collapsed back in July due to “a range of external pressures, but the main driver has been the COVID-19 travel restrictions”, according to administrator Jason Bettles of Worrells Solvency and Forensic Accountants.
“Traditionally, this time of year sees many Australians flock overseas to enjoy the European summer, but the enforced travel ban across the globe has decimated demand,” he said in a statement last month.
“Our goal, together with the director is to navigate through this incredibly difficult period to get the best possible result for the business, its customers and creditors.
“The TravelSIM and FlexiSIM services will continue uninterrupted and with ongoing customer support during the voluntary administration period.”
Following a targeted sale campaign, Bettles revealed last week that TravelSIM had entered into an agreement with BTB Australia to take over the company’s key distribution and service contracts.
“This agreement will ensure service continuity for TravelSIM and FlexiSIM customers,” he said.
At a meeting of TravelSIM’s creditors last Monday, it was voted that TravelSIM would be wound up and Bettles would be appointed as liquidator.
The administrator said TravelSIM’s remaining equipment and motor vehicles will be sold at an upcoming public auction.