|More holiday misery as firms go bust Posted by Sophy at 9 10 PM on Saturday, August 21|
UP to TWENTY travel firms will go bust this year in a holiday bloodbath, experts warned last night.
Hundreds of thousands of families have already seen their dream trips go up in smoke, as a string of holiday operators crashed.
But the situation is set to get WORSE in September and October — when holiday firms traditionally struggle for cash.
Travel industry accountant Chris Photi said: "I’m expecting up to 20 failures this year and betting more go under in the next few days. Extraordinary events of 2010 — severe weather, the ash cloud, strikes, austerity measures — have put more holes in an already ailing sector."
Nine British operators have gone under since April. And in the last two months more than 200,000 holidaymakers have been left in turmoil by the collapse of Goldtrail, Sun4U and Kiss Flights.
Holidays Please director Charles Duncombe warned: "It’s in summer when travel firms hold the most clients’ cash.
"As autumn progresses and bookings start to dry up, more of them are likely to hit the wall."