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Gold Collapse!

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http://www.bbc.co.uk/news/uk-10671063

Goldtrail collapse leaves Britons in Greece and Turkey

A plane Flights home from Turkey will operate as normal but passengers in Greece were told to expect changes

A British tour operator has collapsed leaving thousands of holidaymakers stranded abroad, the Civil Aviation Authority (CAA) has said.

Greece and Turkey specialist Goldtrail, based in New Malden, Surrey, went into administration on Friday afternoon with an estimated 16,000 customers overseas.

The double dip

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Travel companies usually fail in the shoulder season (autumn) when their cashflow is bad given that they have paid all their suppliers for the summer holidays, and have few forward sales/deposits in hand with winter looming.

So the failure of Goldtrail and Monster Travel at this time of year - when cashflow should be at its very best - is deeply worrying. It is going to be carnage - just 2 weeks ago these industry commentators predicted a slew of failures this autumn, yet it is coming early (has consumer demand dropped off a cliff? Seems so):

Company failures predicted in autumn

Photi: “I think we’ll see quite a spate in September and October. The intangible is the volume of cash available and how badly that dents businesses.”

Brendon: “Travel companies without a decent balance sheet and good cash flow are going to struggle.”

Cohen: “I am expecting to see a large number of failures this year – mainly small businesses, but one or two in the lower end of the medium-sized companies too.”

Carrick: “I do not anticipate seeing too many failures because I think that the businesses that are left are pretty solid but those that don’t focus on cash will have a difficult time.”

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Seems odd that they should collapse on the first day of the school summer holidays!

Another week to go round here for the secondary schools.

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My sympathy to the families whose summer holiday now lies in ruins.

In 2004 and 2008 a travel company and then an airline I'd booked with went bust. Fortunately (and a bit weirdly) both happened a couple of weeks after I'd returned home. It wasn't suprising tbh both had a air of 'winding down' about them.

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1194.00

-15.40

"Plummets below the crucial testing level of $1200."

;)

wow that is low,

does it mean deflation is for sure, & gold is now going to tank even lower?

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It seems about 3/4 of the British private companies are a bounced cheque away from going under. They run their cash flow that tight.. refusing to have any spare cash.

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Are we talking

Tiger%20Tank.jpg

or

uslt-ford3ton-PattonMuseum-2.jpg

well RB said something like $300 then he changed it to $600 so its 50% drop from today's high

I have missed the boat on gold & silver when it was that price ages ago & can't see it going it that low but we live in hope,

at the moment only thing I stocked is tins of beans, tuna & lot of other tin food

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wow that is low,

does it mean deflation is for sure, & gold is now going to tank even lower?

No. Me and PropertyGuru are leveraging up.

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No. Me and PropertyGuru are leveraging up.

you guys,

here me thinking that its delflation! some are going to fill their boots at $300.

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  • 145 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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