The Irish-based USIT student travel company is likely to be sold because of serious financial difficulties.
USIT World, which was founded in Dublin in 1959 and now has operations in 66 countries, is believed to have a deficit of up to €12m.
The firm said it is trying to raise additional finance to deal with heavy losses incurred in its American subsidiary, which was acquired on September 1 last.
Accountants KPMG have been appointed by USIT World's banks to examine the financial situation of the company.