Everbread Declared Insolvent With Debts Of £8.7 Million

Airfare search startup Everbread has been placed into insolvency in the UK after a four-year run trying to make in-roads into the world of travel shopping IT, Tnooz.com reported. The London-based company (TLabs here) was officially wound up with a notice to the UK’s Companies House on 14 August this year and its affairs are now in the hands of accountancy firm Carter Backer Winter. Documents state that the company’s liability to creditors is estimated to be in the region of £8.7 million. Everbread effectively had no employees at the time of the winding up of the company last week (one of the founders, Assen Vassilev, showed up in March this year as caretaker minister for economy, energy and tourism in his home country of Bulgaria). According to a liquidation report, things started to go wrong for Everbread in 2011 during a protracted dispute with rival airfare shopping startup Vayant. Read more.