BILLIONAIRE Donald Trump has asked the UK Government to bail out his golf courses in Scotland as they struggle to cope with the economic chaos of the coronavirus crisis.
The Trump Organization is looking to furlough workers at its Ayrshire and Aberdeenshire courses.
In the States, it’s legally barred from seeking aid.
The lockdown has seriously dented the family’s global business interests, which are owned beneficially by the President but run day-to-day by his two eldest sons. Estimates suggest the form is losing around $1m a day.
According to Bloomberg the company is seeking government aid to pay most of the salaries of bartenders, bagpipers and other employees at its three money-losing golf resorts in Scotland and Ireland.
In the U.S., roughly 2,000 employees dismissed from Trump golf courses and hotels will have to line up with millions of others to apply for unemployment payments.
“Like millions of businesses around the globe, we have been forced by government mandate to temporarily close our hospitality and leisure facilities,” said Sarah Malone, executive vice president of the Trump resort in Aberdeenshire.
“We are no different to any other business, including many media companies – this has nothing to do with Trump and does not benefit the business – the actions we have taken are solely to protect people and their families who would otherwise be out of work and struggling to survive financially.”
Local councillor Martin Ford told Bloomberg: “’The huge tab for this will be borne throughout the whole population through higher taxes.
“If what he says about his personal wealth is true, Trump doesn’t need the money, and I don’t see why UK taxpayers of the future should be helping him out.”
More than 140,000 firms have applied for help to pay their wage bill through the UK Government’s job retention scheme.
The programme funds 80% of workers’ wages, up to £2,500 a month, if they are put on leave.
The Trump Organisation was barred by Congress from seeking relief from the $500 billion rescue fund being administered by the Treasury Department.
The Trump International in DC has furloughed 237 employees without pay during the pandemic, according to public records.
In other cities, Trump hotels have furloughed 296 employees in Chicago, 552 employees in Las Vegas, and 70 in New York.
Trump Organization golf clubs have also furloughed 102 workers in Potomac Falls, Virginia, 117 in Los Angeles, and 560 at Trump National Doral Miami.
Mar-a-Lago, also shut down by government order, has furloughed 153 employees.
The Trump Organisation has also reportedly tried to delay its loan payments.
The New York Times said the firm had contacted Deutsche Bank at the end of March to ask about extending some repayment deadlines.
The paper says the family business still owes Deutsche Bank several hundred million dollars, according to the Times.
Source: THE NATIONAL Billionaire president Donald Trump asks government to bail out Scottish golf courses
And there he is crowing about his immeasurable wealth! Three words for the avaricious troll’s business woes: Ha Ha Ha.
Trump businesses in Scotland have lost money every year since the beginning 13 years ago – more than £15 million last year. Their overall debt is in excess of £50million.There was never any prospect of them ever becoming profitable before the impact of Covid-19 and there is no point whatsoever in giving them more money to our down their drains.
Why was this business loss tolerated for so many years? Whoever is owed $50 million by Trump might as well write it all off: Trump has taken businesses into U.S. bankruptcy 5 times – his favourite way of stiffing his creditors and walking away scot-free. He is now stiffing an entire country–and a majority don’t seem to notice (yet); Scots all???