Goldtrail Travel Company Collapses

Goldtrail, British travel company, which specializes in holidays to Greece and Turkey, collapsed financially last month.

British travel company Goldtrail, which specializes in holidays to Greece and Turkey, collapsed financially last month, leaving thousands of holidaymakers stranded abroad and many more forced to change their holiday plans.

According to reports, at the time of the company’s closure some 16,000 travelers were stranded abroad as flights and the tickets already issued through Goldtrail were no longer valid.

On the Greek side, some 4,000 tourists were left stranded in Greece by the collapse of Goldtrail.

The Culture and Tourism Ministry had ordered all national tourism organization offices (GNTO) throughout the country to offer assistance to the stranded tourists.

According to UK newspaper Telegraph, there had been rumors for several months that Goldtrail, based in Surray, southwest London, was in trouble.

“The CAA had informally predicted that smaller tour operators could find it hard to survive the economic downturn,” the newspaper said.