Insolvency firm predicts more misery for holidaymakers
24.08.10
Following the collapse of Kiss Flights, affecting the holiday plans for 73,000 people, Sun4U affecting 14,000 and Goldtrail affecting almost 70,000, a leading insolvency firm has predicted more misery for holidaymakers, with up to 20 more operators will go bust this year, the Express reports.
According to business rescue and restructuring service Begbies Traynor, which has been appointed as administrators of Goldtrail, the effects of public sector cuts will worsen consumer confidence adding to the toll of 13 failures already this year. Partner Nick Hood told the Express: ‘We will see a significant number of additions to the list as we progress into the autumn. If the figures for bookings for winter 2010 and for spring-summer 2011 soften, as I expect, I put the number of additional failures this year between 10 and 20.'
‘Tour operators are among the discretionary spending-reliant sectors most exposed to the recent slump in consumer confidence, which can only worsen as public sector cuts bite. The prospects look seriously clouded, with further failures an inevitability.’
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