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Dec 19, 2017 18:11 EEST
December 19 (SeeNews) - Bulgarian tour operator Sofia Tour and Holiday ceased operations due to insolvency, the tourism ministry said on Tuesday.
"After we settled old debt owed to our partners, we are falling into insolvency and we are unable to service the upcoming trips," the tourism ministry quoted the tour operator as saying in a statement.
According to information from the tour operator, the company has an insurance cover for claims of up to 1 million levs ($604,400/511,292 euro), while according to information about the company's insurance policy provided to the tourism ministry the limit of the compensation is set at 450,000 levs, the ministry said.
(1 euro = 1.95583 levs)
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