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Collapsed Si Holidays assets for sale in bid to pay back Travel Agents

The liquidator assigned to manage the collapse of wholesaler Si Holidays, DEM Asia Group has posted a call out on its website for urgent expressions of interest for the purchase of Si Holidays' assets.

The liquidator assigned to manage the collapse of wholesaler Si Holidays, DEM Asia Group has posted a call out on its website for urgent expressions of interest for the purchase of Si Holidays’ assets.

According to the ad, expressions of interest are invited on all of Si Holidays’ trademarks, brands and customer database of over 7,000 travel agents, IT, software, sales platforms and “forward order book”.

The official ad is as below:



Expressions of Interest are sought for the assets of ACN 615 188 746 Pty Limited (formerly Freestyle Travel Pty Limited) (In Liquidation).

The Liquidator is seeking expressions of interest for the acquisition of the company’s trademarks, brands, customer database of over 7,000 travel agents, information technology, software and sales platforms and forward order book. All assets are being offered on an unencumbered basis.

Interested parties may evaluate the assets following the lodgement of an expression of interest and executed Confidentiality Agreement to Elena Fiakos via email at by close of business Friday, 16 March 2018.”

See the full ad here.


The ad follows the formal closure of Si Holidays last week with their website now only featuring (as shown above) what is a depressing sight for the countless staff, Travel Agents, suppliers and customers who have all been affected by the closure.

It’s a far cry from the previously colourful site, full of tropical images and promises of travel dreams in paradise.

The company does still exist on Twitter though, with the company page still live.

si holidays

One Travel agent, Josh Zuker from Josh Zuker Travel in Frankston sent out the following letter to his customers to update them and ask for their support.


“Josh Zuker Travel, last week was hit hard due to the collapse of Si Travel Group, a major wholesaler that many travel agents used. For many, you wouldn’t know which wholesalers are used for your bookings as “us” travel agents support the preferred and also who offer the best deal. My team are lost for words on how this had happened, but furthermore for the stories that are now unfolding. This entire situation just brings tears to my eyes. I feel for all those affected.

We are saddened from the whole affair, as we had 100 clients affected of which we had to move bookings from Si Travel Group to other legitimate suppliers, so please don’t worry as now all your bookings are safe. If we haven’t made contact with you, we will do real soon.

For those that have lost money, and we included, I can assure you that we are working hard with the liquidator, ATAS and our lawyers to fight for just justice.We believe karma will get this person and we will get our money. I just don’t know how long this will take.

I am personally upset at how such people exist in this world, and they feel the need that they can ruin people lives, families and the end result, peoples holidays.

The Sunday Herald Sun summed this up well that ‘no travel agent/agency can be blamed’ and I feel for the 1000 other agents out there who are in a really tough situation.

If you have been affected, we are more than welcome to pass on the contact details from ATAS, DEM Australasia Liquidators and Harry Singer & Assoc (our legal team) who can assist further, but Josh Zuker Travel is not responsible for this disaster and can’t be blamed in any way for any misconduct.

Thank you to everyone thus far for their cooperation.”

Si Holidays Md, Tui Errera

Si Holidays MD, Tui Eruera

The closure of Si Holidays came less than 24 hours after Travel Agents were warned that Si Holidays was no longer covered by the supplier failure benefit offered by the Australian Federation of Travel Agents’ Chargeback Scheme (ACS).

At the time AFTA sent out an urgent warning telling agents that the ACS would not protect any bookings accepted after March 8, 2018, for Si Holidays and its associated operational brands including Freestyle Holidays, The Collection and Waitui. Si Holidays was also not a member of ATAS.

KARRYON has attempted to contact Si Holidays managing director Tui Eruera as well as liquidator DEM Asia Group for more information and at the time of writing has not received any response.

Have you been affected by Si Holidays collapse? Share your story below.