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Travel City Direct(TCD), XL in trouble

Discussion in 'Walt Disney World News & Rumors' started by keith, Sep 12, 2008.

  1. keith
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    keith Camera nut Staff Member Administrator Forum Host

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    Last edited: Sep 12, 2008
  2. Taja
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    Taja Earning my ears

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    Keith, what does "administration" mean compared to US bankruptcy filings?

    Chapter 7 = kaput
    Chapter 11 = reorganization

    Thanks!
  3. keith
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    keith Camera nut Staff Member Administrator Forum Host

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    It's not a direct equivalent of either but closer to 7 than 11 :( rather then a period of protection, it's more an end game. The company will have an administrator appointed to run the company in the coming period and they'll try to quickly assess the situation to see if there's a way to keep things going with perhaps a refinancing deal or investment. If not then it's down to selling off assets or liquidation.

    Whereas it's perhaps more common for companies to come out of chap 11 with perhaps a reorganisation, you'd have to say that fewer emerge as a whole entity from administration

    So pretty bad news unless they can get an investment package in short order
  4. Taja
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    Taja Earning my ears

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    :fingers: for a good outcome.

    Jodie and her crew are booked on TCD in a few weeks! :eek:
  5. Ursula
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    Ursula Cast Member

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    Jodie won't be going now :(
  6. Disneybumble
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    Disneybumble The Secret is in the Sauce.

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    Poor Jodie , I feel so sorry for her. She was my first thought when i read this. Oh to have a few grand lying around that i could give her. My heart breaks for her and her friends.
  7. Dawn
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    Dawn carpe diem-ing Forum Host

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    They've gone under. Nearly half a million people affected. I feel for each one of them.
  8. Disneybumble
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    Disneybumble The Secret is in the Sauce.

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    I do to Dawn. It's reading about Jodie and "Knowing" her that brings it home. I also am thinking of the poor people who have been saving for 3 years and the "once in a lifetime trip". It is heart break on a massive scale. Yes nobody has died, but everybody looks forward to a holiday be it in Florida or Skegness. And i feel for every single one of them.
  9. Dawn
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    Dawn carpe diem-ing Forum Host

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    I don't get how a company that is clearly having severe financial trouble can still carry on taking bookings as if nothing is wrong. It's shattered dreams. :mad:
  10. Disneybumble
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    Disneybumble The Secret is in the Sauce.

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    It's shocking Dawn isn't it. Go on their website and you can still make a booking. And they have advertisments all over the web .To me at the stage the companys at, that is fraud.
  11. Skywatcher
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    Skywatcher Chief Astronomer

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    It has taught me to book flights with a credit card until they sort out proper protection.

    Only flown with XL once and they were pant - which was galling as it was the lapland trip :(
  12. Dizneyblonde
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    Dizneyblonde Secret's Birthday Fairy!

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    Was in tears when heard the news at 7am.Two very good friends of mine are waking up to this awful news and there's nothing i can do :(

    This holiday means so much to Jodie and Claire who is also due to go on a big family holiday in a few weeks.

    Having had both of them stay with me and chattig to them most ays on msn/txt i know exactly how they will be feeling and devastation doesn't even begin to describe it.

    My heart goes out to all of you.XXX
  13. Debbie2
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    Debbie2 Speedy!

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    I feel so sorry for all those affected and think it is disgraceful that they have continued to take bookings knowing full well the financial mess they were in!! It has been mooted for a few months that they have been in difficulties so was not really surprised when I heard the news this morning.

    Also fear there will be more airlines and companies going belly up over the winter months. It's not been a good week with 180 jobs going at Manchester Airport and BA cancelling their scheduled daily flight from Man to JFK which has been running forever and is my SIL regular flight home three times a year for the past 30 years :( My DH works in the industry so this is not good news at all.

    Thinking of all those affected ..so sorry guys :(
  14. Skywatcher
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    Skywatcher Chief Astronomer

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    :( it is an awful thing to happen - I feel concerned for the poor people caught abroad
  15. kazzaqld
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    kazzaqld Addicted to Mickey

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    It's just awful - I feel so sad for Jodie. :(
  16. Tink
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    Tink Cead Mille Failte! Staff Member Administrator

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    There is absolutely nothing to be done? I mean for Jodie and those like her who are caught up in all of this? There is no option for another flight with another company?

    I clearly don't understand it too well. I do know that bankruptcy means, but with prepaid packages... :( I guess not, eh? Just so darn sad and maddening at the same time. :(
  17. mumof2
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    mumof2 Serious Forum Regular

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    oh my G-d, Jodie :(

    and to think a TCD brochure for next year dropped through my letter box a couple of days ago....:mad:
  18. lisaw
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    lisaw Serious Forum Regular

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    Jodie was also my first thought this morning when i switched on the news :(

    Completely feel for everyone affected, I'm sure there will be more of this happening in the coming months:(
    Last edited: Sep 12, 2008
  19. Tink
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    Tink Cead Mille Failte! Staff Member Administrator

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    Has anyone heard from Jodie today? :sigh;
  20. Dawn
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    Dawn carpe diem-ing Forum Host

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    I've heard on another forum that Gavin is ringing round right now trying to salvage something.

    Prepaid means nothing when this happens Tink. Their planes have been grounded. There's no money to buy fuel for them. No money to pay the pilots, ground crew, etc. There's just no more money for anything. :(

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