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Post by bulldog on Sept 24, 2019 8:23:21 GMT 1
From earlier post about assets. Quoted from tv news TC only owned 9 hotels so the margins they could make from non owned , which would be bulk of clients is very small. Debt pile was 1.7billion. Gross mismanagement , they nearly went bust in 2011 and 12. Then when everyone else re trenched from high st shops due www , they took over co op travel shops only a few yrs ago. Package holiday market still buoyant and apparently similar size, however 80% are booked online.
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Post by baldyman26 on Sept 24, 2019 8:34:02 GMT 1
Debt repayment was 150 million per month alone... If there is no accountability to any management then in the current world and market, this won't be the only shock as business owners take more and more risks... A completely different example is Bury FC.... Read about that, it's shocking how that was run but all perfectly legal.
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Deleted
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Post by Deleted on Sept 24, 2019 21:56:24 GMT 1
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Post by ronturner on Oct 4, 2019 6:21:39 GMT 1
I am in Crete enjoying a holiday here. ( Thanks to those that made recommendations a couple of months ago.) The TC failure is having a big influence. Although the hotels will be getting paid, it seems, the lack of continuing incommers is being felt by the hotels restaurants and shops. There are a lot of Dutch, German and others here, but the gap left but TC seems to be a hard one to fill at short notice. Weather is fantastic by the way, and so is everything else
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