High summer, the time of holidays and travelling, has for the past few
years been a time of uncertainty for many Czech holidaymakers. It is
precisely at this time of year that travel agencies are most likely to go
bust. Last week it transpired that the country's biggest travel empire,
Fischer, considered a safe bet by many, had accumulated 400 million crowns
in unpaid debt; two of its companies went into administration. Now, the
owner Vaclav Fischer says he has found a strategic investor to help save
his travel empire from collapse.