Suppliers

Supplier FAQs

What has happened?

Toby Banfield, David Kelly and Edward Macnamara of PwC have been appointed as joint administrators of the Companies. They were appointed on 6 August 2020, except in respect of Travelex Banknotes Limited where they were appointed on 21 July 2020.

Following their appointment, the joint administrators are pleased to announce the successful completion of the restructuring of the Group, including the sale of the Companies business and assets to Travelex Acquisitionco Limited. The purchaser is a special purpose vehicle controlled by certain of the holders of Travelex’s Senior Secured Notes, one of the secured lenders to the Group.

Am I required to continue providing service or supplies?

If you supply a Travelex company that has not entered administration, please get in touch with your normal contact at Travelex with regards to current or future orders and deliveries.

If you supply one of the Companies that have entered administration, your relationship manager at Travelex will be in touch to discuss next steps with regards to moving the existing contract that you have (with the company in administration), to a new Travelex entity owned by the purchaser. This would be necessary for contracts with Travelex Limited, Travelex UK Limited and Travelex Banknotes Limited which are all now in administration.

The joint administrators will manage the process for paying new invoices for any services required by the Companies in administration prior to a contract being novated. Your relationship manager at Travelex will be in touch to discuss next steps for any supply required by the Companies in  administration.  Please note that you should only supply one of the Companies in administration if you receive a signed purchase order from the administrators or their authorised representatives; or you separately agree ongoing supply with another Travelex entity.

Any goods and services supplied on the request of the administrators will be paid for out of the assets realised by the administrators, provided the order is in writing and signed by one of the joint administrators or their authorised representatives. Further details, including their specimen signatures and new invoicing details, will be provided in writing at the appropriate time.

If you have any questions, please reach out to your relationship manager at Travelex in the first instance.

When will I get paid?

Payment for goods and services provided prior to the date of appointment will not be paid for.

However, you can submit a claim to the joint administrators for the amount you were owed prior to their appointment. The joint administrators currently estimate that a dividend may be available in certain (but not all) of the Companies, and further information will be provided in their statement of proposals.  Details of how to file a claim will be sent to all creditors in the coming days.

You will be paid on normal terms for any goods and services provided to the Companies in administration against a written purchaser order signed by a member of the PwC team.

Further information can be found in the Creditors section on our website.

I have goods on site, can I get them back?

If you believe you have a Retention of Title claim over goods that you have supplied to the Companies, please contact the administration team at uk_travelex_creditors@pwc.com.

Other Queries

Please contact uk_travelex_enquiries@pwc.com