The move is understood to have resulted in the loss of 27 jobs and put bookings made with the site worth around £1 million at risk, it has been reported. "5pm Ltd has unfortunately been placed into administration following challenges with cashflow that could not be overcome," Mr McNaught said in The Times. Mr Somerville set Kooble up as a non-profit co-operative with no external shareholders, allowing profits to be directed back to hospitality businesses through a dividend. He said at the time: “I believe that a co-operative booking platform, owned by the industry itself is the solution the tourism and hospitality sector has been waiting for. “My vision is to spearhead a Scotland-wide movement that fosters a sustainable and thriving hospitality industry, benefiting all stakeholders.

Source: The Times August 04, 2024 11:32 UTC