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Insolvency firm warns of more travel company failures


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Unread 06-01-2017, 12:41
TheEngineer
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http://www.travelmole.com/news_featu...etreg&region=2

More bad news from the travel industry.

My bolding

A report coming out later this month will show that nearly four in 10 travel companies are now in 'significant' financial distress.

Data analysed by insolvency firm Begbies Traynor found 2,679 businesses in the travel sector - thought to be made up of around 7,000 companies - were experiencing significant distress in the last thee months of 2016.
"Terrorism is a growing threat, particularly affecting some of the traditional holiday favourites like Turkey, Egypt and Tunisia, and there's also been a downturn in customer sentiment post Brexit," she told TravelMole.

"The weaker pound is having an effect too."
Dress it up any way you want it, dismiss it or ignore it. Brexit is having an effect that will hit a lot of people.
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Unread 06-01-2017, 12:44
jmclaugh
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Unread 06-01-2017, 12:53
Rastus Pieface
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oh how i miss the days of JOL44s threads.

i used to believe there were two types of people - those who are a glass halful type and those who are a glass helf empty type.

i now know there is a 3rd type - those who are a glass half empty type 'and we can't afford to re-fill it cos of the fall in the value of the pound'.
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Unread 06-01-2017, 12:56
Jayceef1
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Only if paid in dollars
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Unread 06-01-2017, 12:58
Mark_Jones9
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http://www.travelmole.com/news_featu...etreg&region=2

More bad news from the travel industry.

My bolding





Dress it up any way you want it, dismiss it or ignore it. Brexit is having an effect that will hit a lot of people.
While the effect of the EU is that customers maybe left out of pocket, due to some companies operating in the UK by using EU passporting of businesses, despite not being based in the UK and covered by UK regulation.
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Unread 06-01-2017, 13:01
TheEngineer
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oh how i miss the days of JOL44s threads.

i used to believe there were two types of people - those who are a glass halful type and those who are a glass helf empty type.

i now know there is a 3rd type - those who are a glass half empty type 'and we can't afford to re-fill it cos of the fall in the value of the pound'.
As an Engineer I believe the glass is twice as big as it needs to be.
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Unread 06-01-2017, 13:02
trunkster
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oh how i miss the days of JOL44s threads.

i used to believe there were two types of people - those who are a glass halful type and those who are a glass helf empty type.

i now know there is a 3rd type - those who are a glass half empty type 'and we can't afford to re-fill it cos of the fall in the value of the pound'.
They must be the same person.
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Unread 06-01-2017, 13:08
Mr Oleo Strut
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http://www.travelmole.com/news_featu...etreg&region=2

More bad news from the travel industry.

My bolding





Dress it up any way you want it, dismiss it or ignore it. Brexit is having an effect that will hit a lot of people.

Yes, the manure is hitting the fan, and Brexit is partially responsible. It was always going to happen. Better get used to it, you braying Brexit bores, there is much worse to come. What with the potential horrors of terrorism you will be paying a lot more for your brief incursions into those despised foreign shores. Who is to blame, at least partially? Look in your mirror, there's the culprit. Yoicks, tally-ho!
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Unread 06-01-2017, 13:21
John146
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Tell you what TheEngineer, why don't you book a holiday to help the poor travel agents out, where would you like to go, Turkey perhaps, Libya maybe, Egypt if you must.
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Unread 06-01-2017, 13:23
trunkster
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Yes, the manure is hitting the fan, and Brexit is partially responsible. It was always going to happen. Better get used to it, you braying Brexit bores, there is much worse to come. What with the potential horrors of terrorism you will be paying a lot more for your brief incursions into those despised foreign shores. Who is to blame, at least partially? Look in your mirror, there's the culprit. Yoicks, tally-ho!

Oh the irony
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Unread 06-01-2017, 13:24
Jayceef1
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Tell you what TheEngineer, why don't you book a holiday to help the poor travel agents out, where would you like to go, Turkey perhaps, Libya maybe, Egypt if you must.
Could go a bit closer to home. Nice, Paris, Berlin. nothing to worry about there. Tunisia is also nice I hear.
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Unread 06-01-2017, 13:25
Thor_Noggsson
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http://www.travelmole.com/news_featu...etreg&region=2

More bad news from the travel industry.

My bolding





Dress it up any way you want it, dismiss it or ignore it. Brexit is having an effect that will hit a lot of people.
What is it you hope to achieve with all these doom and gloom posts?
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Unread 06-01-2017, 13:25
John146
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Could go a bit closer to home. Nice, Paris, Berlin. nothing to worry about there. Tunisia is also nice I hear.
Are you sure??
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Unread 06-01-2017, 13:30
MargMck
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But where would we be without our braying Eeyores?

"That Accounts for a Good Deal," said Eeyore gloomily. "It Explains Everything. No Wonder."

"Good morning, Pooh Bear," said Eeyore gloomily. "If it is a good morning," he said. "Which I doubt," said he.
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Unread 06-01-2017, 13:57
Aetius_Maralas
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Give twenty reasons something bad will happen, tag Brexit on at the end and you'll guarentee a DS thread ignoring all of the other reasons and just crying BREXIT!!!!!.
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Unread 06-01-2017, 14:20
Aurora13
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A sterling crisis was bound to cause these issues. There will have been hedging of pound around Brexit vote by bigger firms but that has now run out. Why anyone thought a devaluation of the pound by 17% (more at times last Autumn) wasn't going to cause serious problems for some firms is beyond me. History tells you what happens!!
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Unread 06-01-2017, 15:11
Jayceef1
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A sterling crisis was bound to cause these issues. There will have been hedging of pound around Brexit vote by bigger firms but that has now run out. Why anyone thought a devaluation of the pound by 17% (more at times last Autumn) wasn't going to cause serious problems for some firms is beyond me. History tells you what happens!!
History also tells us that the pound was lower against the dollar than it is today for some time in the early parts of the last decade. There wasn't this level of outrage then nd we managed quite well.
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Unread 06-01-2017, 15:19
James_Orton
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So travel firms that are dealing with UK destinations will be doing better then?
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Unread 06-01-2017, 15:37
tiggertiny
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What is it you hope to achieve with all these doom and gloom posts?
Nothing but unfortunately he hasn't grasped that yet.
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Unread 06-01-2017, 16:46
ste1969
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Could go a bit closer to home. Nice, Paris, Berlin. nothing to worry about there. Tunisia is also nice I hear.
but then he wouldn't be able to eat in one of Jamie Oliver's restaurants
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Unread 06-01-2017, 17:52
Doctor_Wibble
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While the effect of the EU is that customers maybe left out of pocket, due to some companies operating in the UK by using EU passporting of businesses, despite not being based in the UK and covered by UK regulation.
More than slightly tangentially, this reminded me of the (sort of opposite) case where someone wanted to be able to use a subscription with a Greek TV company to have live football shown in her pub.

The ECJ said this was fine in principle according to the single market rules, but all the stuff before and after and anything that wasn't specifically part of the match was not fine as that's the licensable content under exclusivity deals from the Premier League who clearly didn't want to annoy the buyer of said rights in the UK.

At the time, the UK cost was £700 pcm as opposed to the Greek cost of £800 p.a. so it's understandable why it was worth taking this to court.

Full and more correct version : http://www.bbc.co.uk/news/business-17150054
[ and apologies if I have mis-summarised... ]
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Unread 06-01-2017, 19:15
Shalamara
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Remind me - how many travel companies went to the wall in 2016? 2015? 2014? 2013? 2012? 2011? 2010? and backwards? I'm an oldie and can't remember a year when one or more travel companies did not close or get into financial difficulty so why should 2017 be any different and without any help from Brexit.

Because I am helpful I list below:

2010 - Kiss Flights
2011 - http://www.thisismoney.co.uk/money/n...-packages.html
2012 - https://www.theguardian.com/business...ravel-agencies
2013 - http://www.travelmarketreport.com/ar...front-Agencies
2014 - http://www.ibtimes.co.uk/travel-agen...tition-1444743

I can't be bothered to google any more and those listed above were not isolated cases so nice try but big fail - back to your trawling the dredges of Google for other negative news stories you can attempt to blame on Brexit, no matter how absurdly wrong.
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Unread 06-01-2017, 19:22
Annsyre
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http://www.travelmole.com/news_featu...etreg&region=2

More bad news from the travel industry.

My bolding





Dress it up any way you want it, dismiss it or ignore it. Brexit is having an effect that will hit a lot of people.
Wrong. Fear of terrorism is putting people off travelling abroad. We haven't actually exited yet btw.
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Unread 06-01-2017, 21:40
TUTV Viewer
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As an Engineer I believe the glass is twice as big as it needs to be.
As my Engineering school teacher once explained to us:-

There was an Engineer, a Physicist and Mathematician at one end of a 100 metre track. At the other end of the track was a fit naked woman who was "up for it".

The EP&M are told that they may traverse the track at 50% of the distance at a time, the Physicist and Mathematician immediately protest that this is impossible to complete. The engineer gets one with it knowing that whilst he will never reach the end of the track, he'll get close enough to do what he wants to do with the fitty.

So...

My conclusion is that you can't possibly be a true engineer, as a true engineer would simply get on with the job rather than fear the future.

Are you perhaps a "snowflake"?
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Unread 07-01-2017, 08:00
CubeGame
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What is it you hope to achieve with all these doom and gloom posts?
Haven't you heard? It's a war against Brexit. They are winning it and the more they say they are winning the greater the margin of the win.

The reality. We have a dedicated bunch of keyboard warriors who think that posting on a forum (or any other kind of social media) actually has value in the real world (It doesn't).

A common tactic of such posters is also to pretend to have a successful business (they don't) which is struggling after Brexit. They had, of course, already committed to leave the UK as soon as a No vote occurred (they didn't). They are now going to use that option when it starts to get bad (they won't).

I suspect much of it is caused by having too much free time whilst failing a degree in media studies or such like.
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