Tempo insolvent trading

TEMPO Holidays had been trading while insolvent since 26 Jun 2019, according to preliminary investigations into the company, which collapsed three months later (TD 20 Sep).A new report from Laurence Fitzgerald of accounting firm William Buck, notes a declining cash position because its parent company Cox & Kings India did not help fund a shortfall during a period of “comparatively low receipts from customers”.Prior to that, in Apr and May 2019, a total of almost $5 million was ad