Donald Trump's Scottish golf resorts reported losses of £4.4m in 2021, with the Menie Estate in Aberdeenshire reporting losses in excess of £696,000 and Turnberry in South Ayrshire being more than £3.7m in the red.
Why it matters
The significant losses at Donald Trump's Scottish golf resorts highlight the financial challenges faced by his businesses and raise questions about the sustainability of his golf ventures.
What the papers say
According to BBC News, the golf resorts at the Menie Estate and Turnberry reported losses of £4.4m and £3.7m respectively in 2021. The Independent adds that the company owning Trump Turnberry in South Ayrshire posted a loss of £14.7m in 2021, despite an operating profit of £1m, citing depreciation, foreign currency exchange, and exceptional items as contributing factors. Reuters mentions that the clubs received just over £1m in COVID payroll support from the UK government, which helped mitigate the losses.
How we got here
The financial accounts for Donald Trump's Scottish golf resorts reveal a consistent pattern of losses, indicating ongoing financial challenges. The impact of the COVID-19 pandemic, as well as factors such as Brexit, supply chain disruptions, and staffing issues, have been cited as contributing factors to the financial difficulties faced by the resorts.
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