LeisureLink shuts down
In a letter sent to clients on September 27 and first reported by VRM Intel, tech provider LeisureLink said it is shutting up shop.
Tech provider LeisureLink has been telling some of its customers that it has suspended accepting new reservations or modifying existing reservations via the travel reservations system it provides property managers, hotels, and vacation rentals.
Today, in a letter sent to clients and first reported by VRM Intel, the company said it is shutting up shop.
“While LeisureLink attracted considerable interest from many strategic buyers and investors, management has determined that none of these parties are likely to complete a transaction before late Q4 of 2016.
This timing and the continuing cash needs of the Company has created a liquidity deficit which prevents the Company from continuing its daily operations….
At this time, all employees of LeisureLink are being terminated and the platform turned off”
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