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The number of people with all these grandiose plans of how a new comp should be structured & who should be in it makes me laugh. And its all so nice that they’ll allow the Force to be readmitted-spare me! I think TWAS & Reg must be brothers, the same degree of self importance starting to border on panic.
So Cox still at it.... as Al Bell posted on Facebook. I especially like the comment about hitting up the Government for debt assistance.
Queenstown operators allegedly owed 'millions' by Website Travel company
Jo McKenzie-McLean
18:57, May 21 2020
Queenstown's tourism operators are still waiting for funds being held by a company running a booking technology system.
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Queenstown's tourism operators are still waiting for funds being held by a company running a booking technology system.
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A company linking travel operators with booking agents allegedly owes "millions" of dollars to Queenstown tourism operators.
Former Canterbury businessman Andrew Cox, the managing director of Australian-based Adventium Technology Group Pty Ltd, which owns travel booking technology company Website Travel, says he plans to access the Government's business debt hibernation scheme to stave off paying debts.
Queenstown tourism operators are among those owed money after already providing services booked through agents using Website Travel, such as Travel Freedom Group NZ (Ltd) and Happy Travels.
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Cox has informed operators that Website Travel — which holds onto booking funds until the bookings are completed — was suspending payments to all agents, operators, suppliers and customers.
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A statement from parent company Adventium Technology Group Pty said it was "working hard to pay all our obligations" and had been in discussions with the New Zealand Government to get support.
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"We are not asking them to pay our obligations, rather we have been seeking support on commercial terms which we will repay over time," it said.
In an email sent to creditors, obtained by Stuff, Cox says the company intended to access the Government's Business Debt Hibernation scheme, which would give it time to raise $12 million to pay its creditors.
"Government mandated shutdowns have brought adventure and experiential travel to a complete standstill and like Virgin, Flight Centre, Webjet to name a few, we have not been immune to this significant negative impact on our business," Cox says in the email.
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JO MCKENZIE-MCLEAN • CENTRAL OTAGO REPORTER
jomacmac@stuff.co.nz
Website Travel, which ran on "a negative working capital model", had "unwound at such a rapid pace" because of the Covid-19 pandemic that the company had to raise new capital to repair the balance sheet, he wrote.
"While this announcement accommodates a six-month [debt] hibernation period, we are confident that we will not require anything more than a month or so to meet our obligations, and the proposal to embark on this hibernation exercise will reflect that."
In its statement, Adventium Technology Group Pty Ltd said it was changing its processes to hold booking funds separately and "ensure that an issue such as this does not arise in the future".
"The process of recapitalising can take some time. We are asking our client base to be patient with us as we work through this as quickly as we can."
Nomad Safaris managing director David Gatward-Ferguson, of Queenstown, says he is owed $20,000 by Website Travel.
JO MCKENZIE-MCLEAN/STUFF
Nomad Safaris managing director David Gatward-Ferguson, of Queenstown, says he is owed $20,000 by Website Travel.
Queenstown tourism operator David Gatward-Ferguson, who owns Nomad Safaris and is struggling to survive the coronavirus fallout, said Website Travel owed him $20,000.
Website Travel's business model, which held on to booking funds until the booking was completed, had now "tripped" up, Gatward-Ferguson said.
"In short, they make us pay a large commission in order to give them interest free money for up to two months to do with what they like."
Clutha-Southland MP Hamish Walker said he knew of about six operators that were collectively owed more than $1 million.
"It's a real kick in the guts because they have performed all these services and Website Travel was meant to pay them once the service has been done.
"Going forward these types of overseas-based middle-man operators need removed from the market and left to the locals to perform."
National Clutha-Southland MP Hamish Walker says at least six tourism operators have contacted him with concerns about money they are owed by booking agents.
KAVINDA HERATH/STUFF
National Clutha-Southland MP Hamish Walker says at least six tourism operators have contacted him with concerns about money they are owed by booking agents.
Another tourism operator, who declined to be named, said his company was owed $40,000.
"That's a month's pay roll for us, and for bookings we have already carried out for February and early March."
Over summer, two Australian booking agents (Travel Freedom Group and Happy Travels) "ruled the roost" in Queenstown and pushed commissions up to 30 per cent in some cases.
"Of the 15 to 17 [booking offices] in town, they would have 11 of the locations."
He said he hoped locally-owned booking agents could emerge stronger so "commissions can stay local and operators get a fair cut of the work they are doing".
Australia's ABC news reported Website Travel also owes Australian tourism operators $9m.
.
"The main difference between playing League and Union is that now I get my hangovers on Monday instead of Sunday - Tom David
Mr Cox 's business, Website Travel, ran on "a negative working capital model" and "Australia's ABC news reported Website Travel also owes Australian tourism operators $9m"
The truth may set you free, but only evidence convicts
'I may be a Senator but I am not stupid'
https://omny.fm/shows/the-alan-jones-breakfast-show/cameron-clyne
Link to Senate Report http://www.aph.gov.au/senate_ca
https://www.change.org/p/rugby-australia-petition-for-cameron-clyne-to-resign-as-chairman-of-the-rugby-australia-board
An ironic smile....but the usual suspects from the East putting shit on the Force on twitter etc.
a few punters over at GAGR are getting their knickers in a knot-see Rugby australia thread in rugby discussion(especially comments about staff levels,lol)
I didn’t realise that it took around 140 people working their arses off so efficiently to so completely f##up an organisation. Gotta admit they’ve certainly excelled themselves. Hilarious!
The Mindaroo staffing level triggered poor Reg