Tycoon Media Limited based in Manchester, which claimed to offer a hotel listings service, has been closed by the High Court for misleading customers and failing provide services to clients.
The decision was made following an investigation by Company Investigations of the Insolvency Service.
The investigation found that the company, which was trading under the names ‘Seek & Sleep’ and ‘Seek & Dine’ charged customers a monthly fee of between £29.99 and £49.99 to list their hotel or bed and breakfast business on its online booking agency.
The company falsely claimed to offer a money-back refund guarantee of the monthly fee if the establishment did not get at least one booking per month. It was found that no such refunds have been made under this promise.
The Insolvency Service investigation also found many other examples of misconduct by the company, including failing to provide the pre-paid service, taking unauthorised payments from clients, failing to make good on refunds, failing to maintain adequate accounting records and trading whilst insolvent.
Commenting on the case, Alex Deane, an investigation supervisor with the Insolvency Service, said: “This company operated with flagrant disregard for the general rules of running a business and failed to co-operate fully with the investigation.
“The company consistently failed to provide the services it offered, purporting to be the ‘UK’s fastest growing accommodation portal’, when in fact its customer base was minimal and remained as such throughout its trading period.”