July 24, 2018
Vacances Sinorama, a Montreal, Quebec-based tour agency that sells bus tours and low-cost tours of Asian countries, had a provisional administrator appointed over its business on July 24 in a decision rendered by the Office de la protection du consommateur ("OPC"). The OPC took this initiative following the company's failure to comply with the requirements of the Travel Agents Act in connection with the the way it handled clients' payments. The OPC plans to withdraw the company's travel agent permit. The company's parent company, Sinorama Corporation, which is headquartered in Florida, reported a net loss of $2.8MM (USD) in the quarter ending in March 2018. PwC was appointed provisional administrator.