A CREDITORS’ meeting of Tralee-based Slatterys Travel was attended by about 10 people at the Killarney Court Hotel yesterday evening.

The company, founded 80 years ago in Tralee, ceased trading last month with the loss of 17 jobs.

About three staff were among those who attended the meeting.Staff have not yet received redundancies but as they emerged after about 40 minutes they said they were satisfied with the assurances they had received at the meeting.

Also attending were solicitors representing several Spanish travel and accommodation companies which are among the creditors.

Directors David and Michael Slattery told the meeting they had borrowed to introduce capital into the company. The brothers are owed €1.3 million.

After the meeting, Clare travel agent Brian Comerford, who said he was representing “a creditor”, said the company had been well respected and the meeting had not been angry.

“I reminded the meeting that when David Slattery snr bought his coach business [more than 30 years ago] it cost 1½ times the size of a large house. He took a risk and it went well.

“In the case of the current directors, David and Michael, when they acquired Stein Travel, they took a risk and the market changed.”

The acquisition of Stein Travel – specialising in sun holidays – in late 2006 was the subject of close questioning at the meeting and was felt to have been one of the main reasons the company folded, according to sources. The meeting also heard how the company was buying holidays at €500 but was being forced to sell them at €300 in an effort to keep going.

The press was not allowed to attend the meeting.