Receivers sell Jasons assets

Last updated 07:46 10/12/2013

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Tertiary textbook firm Bennetts Group has bought the assets of Jasons Travel Media from the receivers.

Invercargill-based Preston Russell Law partner and Southland Chamber of Commerce president Sean Woodward has been appointed director of the new company - Jasons (2013). He is also the lawyer for the company.

The listed travel and accommodation guide publisher was bought by the Bennetts Group company from receivers PPB Advisory for an undisclosed sum.

The purchase means Jasons will continue to trade as a going concern, protecting the interests of tourism industry operators, customers and other stakeholders.

The deal includes 62 magazine publications, the Jasons websites, and more than 4000 distribution points across New Zealand.

"We will make sure the receivership does not affect the business, which it has not because it has all happened so quickly," Woodward said.

The acquisition is to be completed under a tight timeframe, which means Bennetts will be assessing the requirements of the business during the coming months and talking to customers and suppliers as soon as possible.

Southland motel operators, tourists and other customers who had paid reservation money to Jasons should also not be left out of pocket, he said.

"These funds were held by Jasons in a separate trust account and are to be transferred to the new owner on the condition that they remain in a separate trust account. The new Jasons will then pay those funds to the correct party as soon as possible."

Talks had also been held with The Motel Association of New Zealand. Fairfax NZ

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- Taranaki Daily News

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