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Trump’s two Scottish golf programs misplaced almost $9 million mixed in 2020, new filings present.
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The filings, signed by Eric Trump, present that the golf equipment misplaced cash even after claiming UK authorities pandemic help.
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Executives blamed the losses on Brexit and COVID-19.
Donald Trump’s two Scottish golf resorts misplaced £6.6 million ($8.9 million) mixed in 2020, in accordance with recently-published filings.
Accounts filed Friday with UK authorities present that losses at Turnberry, the previous president’s flagship resort in Scotland, hit £5.3 million in 2020, greater than double the resort’s £2.3 million loss in 2019.
At Trump Worldwide Golf Hyperlinks, his Aberdeenshire resort, losses in 2020 amounted to £1.3 million in contrast with £1.1 million in 2019.
Trump opened the Aberdeenshire resort in 2012 after a protracted battle with native residents and environmentalists. The resort has since posted a loss yearly.
The Trump Group bought Turnberry, a storied resort that has hosted the Open Championship, for $60 million in 2014 and claims to have spent an additional $150 million creating it. The resort has not posted a revenue underneath Trump’s possession.
Turnover at Turnberry, which is owned by Trump by way of a agency known as Golf Recreation Scotland, dipped in 2020 to £6.7 million, from £19.7 million in 2019. At Trump Worldwide Golf Membership Scotland, which controls the Aberdeenshire resort, turnover fell to £1.1 million in 2020 from £3.3 million in 2019.
Eric Trump, the previous president’s son, who’s a director of each corporations, mentioned within the filings that revenues had fallen as a result of the resorts have been compelled to close through the coronavirus pandemic. He additionally mentioned Turnberry’s income w broken by the UK’s departure from the European Union, which his father had supported.
Brexit additionally affected the resorts “as provide chains have been impacted by availability of drivers and employees, decreasing deliveries and the provision of sure product strains,” Eric Trump mentioned within the strategic report connected to Golf Recreation Scotland’s account filings.
Trump claimed greater than £3.3 million in UK authorities help for his Scottish golf golf equipment through the coronavirus pandemic, Insider’s Erin Snodgrass reported.
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