One of the country's best known travel companies, Joe Walsh Tours, which ceased trading earlier this year as a result of the impact of travel restrictions caused by the Covid-19 pandemic, is to reopen after the business was bought from its liquidators by a former manager.
In April Joe Walsh Pilgrimtours Ltd, trading under a number of different brand names, said it was unable to fulfil its obligations to customers.
KPMG were appointed to liquidate the company and in May put it up for sale.
But following a competitive sales process, David Walsh, who had been involved in running the firm prior to its closure, has bought the business and certain assets, including the Joe Walsh Tours brand from the liquidators.
The Pilgrimages Abroad & Concorde Travel brands have also been bought as part of the deal.
The price paid has not been disclosed by either side.
When it entered liquidation, Joe Walsh Tours and its related businesses had liabilities of around €5m.
But it is understood the business and assets were sold for less than this amount.
Most of the 3,000 creditors were people who had booked and paid for tours.
When it closed, the company had a bond in place with the Commission for Aviation Regulation to cover passengers who had booked package trips.
The Commission is still in the process of refunding all former customers who were due to depart from the Republic of Ireland.
UK customers have been refunded through the Total Payment Protection policy provided by Travel & General Insurance Services Ltd.
Other creditors included Revenue, landlords and various trade creditors.
The new owner of the company said it is currently in the process of seeking a licence from the Commission for Aviation Regulation.
Its intention is to resume offering travel services in a range of specialist tour markets, including pilgrimages.
'We are delighted to announce the re-opening of Joe Walsh Tours," a spokesman said.
"Parishes, group leaders, dioceses and special interest groups around Ireland have repeatedly voiced their need for the assistance of a specialist licensed and bonded group travel company, when co-ordinating foreign group travel and we are ready to facilitate these groups."
Founded in 1961 by Co Down native Joe Walsh, Joe Walsh Tours is one of the oldest travel companies in the state.
It became particularly well known for specialised tours to pilgrimage destinations.
Prior to the pandemic, it had offices in the UK, Europe, and the US and employed more than 100 people.
