‘Up to 20 more operators to fail’, insolvency firm predicts
Up to 20 more operators will go bust this year according to business rescue and restructuring service Begbies Traynor.
The company, which has been appointed as administrators of Goldtrail, predicts 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.”
He added that Banks, suppliers and hoteliers will be asking themselves whether they can support low budget operators through lean times.
by Debbie Ward
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025