The administrators of failed online travel company Roamfree have launched a sales campaign for four of the company's subsidiaries after the group went into receivership recently.

Roamfree was placed in the hands of Tim Michael and Will Colwell of insolvency firm Ferrier Hodgson on 24 August. The company had been trying to reach a deal with its creditors to come up with a workable debt-servicing plan. But after being unable to reach agreement, the board was left with no choice but to put the company in the hands of administrators.

"From my initial review of the company's affairs, it appears that funding provided by noteholders and investors has been exhausted by business investments and acquisitions and the costs of developing its online offering," Mr Michael said in a statement. "The current economic climate, resulting in reduced travel and accommodation bookings, has also negatively affected the performance of the group."

While the Roamfree entity is in the hands of administrators, the company's trading businesses - BookEasy, Horizon, Roamfree and Roamfree advanced - remain open for business.

It is these companies that are now on the sale block.

Tourism Technology, in which Roamfree owns a majority share, is also continuing to trade. Its founder and CEO Graeme Hunter remains in control of the business and said in a statement that he will work will the administrators to find the best outcome for the business.

A meeting for Roamfree creditors has been scheduled for 3 September.

The company assured accommodation providers in a communiqué late this week that the four companies are not affected by the receivership.

“The appointment of the administrators relates solely to the non-trading parent company Roamfree Ltd. The group’s subsidiary trading companies, BookEasy P/L, Roamfree Pacific and majority owned Tourism Technology, will continue to trade as normal,” the communiqué stated.

“We understand that you may have concerns with the payment of funds for www.roamfree.com bookings, however we assure you that the administration in no way jeopardises these payments. These funds are secure, not impacted by the administration and will be paid as normal. The group said that despite the best efforts of Roamfree’s hard working team, the parent company had not been able to meet its debt commitments to convertible noteholders.

“The board had been endeavouring to reach agreement with noteholders on a suitable debt servicing plan but had been unable to do so.”