In the seemingly never-ending stream of breaking news from the world of business, earlier today Conquest Vacations announced that it has ceased operations effective immediately. After 37 years in business, this popular tour operator is evidently the latest victim of the global recession.

According to their website, customers who have booked trips with Conquest Vacations may contact directcustomers@conquestvacations.com although they are expected to receive communication from the now-defunct company. Those who booked travel through an agency and paid using cash or cheque should contact the same travel agency directly.

However, those who used credit cards to book their vacations are requested to contact their credit card companies to have a refund issued to them.

The following statement was released by Conquest Vacations on their website:

“Conquest Vacations regrets the inconvenience caused to the passengers due to cessation of its operations. Unfortunately this has been a result of overcapacity and price war among the major tour operators, unrealistic and unreasonable demands by the credit card processing companies, credit squeeze and economic turmoil in recent months making it impossible for companies like Conquest to continue in business even after weathering many storms over the past 37 years”.