TCG's reverse factoring is gone
All,
According to the Spanish press article below, Hotels in the Baleares are saying that TCG's reverse factoring providers have pulled out.
Parts of the article are probably not quite accurate as it is not a financial paper, but we are inclined to believe the central story.
Clearly, TCG are swimming in cash going into the holidays and should be able to step in with pre-payments, but the writing is increasingly clear on the wall.
What we are wondering about is why TCG - flush with cash from WC - have reverse factoring lines in the first place. Tomas investigating.
Wolfgang