Thats the biggest problem with loss making businesses. There are too many ways to keep them going long after there is any chance of recovery
Yes. When your business owes the bank £5,000 then you have a problem. When your business owes the bank £5,000,000 then the bank has a problem.
Mmm. Except, when interest on your debt is eating 25% of TOTAL turnover (as has been the case for Thomas Cook over the last 10 years), it very much is your problem.
Pete, I'm gutted for you and your fellow employees at Thomas Cook. The company always had a good reputation with the paying public. The fact that the management tried to fix an outdated business model by merging with a competitor with even greater problems is no reflection on the quality or professionalism of the workers at the coal face.
