Dream holidays shattered in $4.3 million travel agency collapse (opens original article in a new tab)

Australian travel agency AVG Travels collapsed, leaving customers and creditors with $4.3 million in losses, prompting demands for stronger consumer protections in the travel sector.

• AVG Travels, a Melbourne-based travel agency, collapsed in May, leaving $4.3 million in debt to 800 creditors.
• Customers lost money as the agency failed to provide refunds, prompting calls for reinstating the Travel Compensation Fund abolished in 2014.
• The agency's owner, David Dao, listed his Melbourne home for sale, and the company's UK subsidiary rebranded days after the collapse.