Hi all.
Need to do some detective work on company financials for travel company which has only been offering credit for tours cancelled due to COVID.
Claiming can’t afford to refund but sounding a bit like a Flight Centre look alike. I’m concerned that Aussies are being asked to support the travel industry when they run the risk of being hung out to dry by some of these operators.
If you wanted to investigate the company’s financials what are some first steps to take?
Many thanks.
Just go cc chargeback?
Hi,
Flight Centre is a huge company. Even if you don't think you booked with them, there are sub-companies owned by the mothership.
Look at:
https://www.theguardian.com/travel/2020/apr/16/topdeck-tour-…
https://www.accc.gov.au/system/files/ACCC%20and%20ACL%20Regu…
Contact the ACCC or consider asking your Bank for a Charge Back if available.
contact your states fair trading in writing - if it exists.
Pretty sure writing still exists.
ASIC report for $9 will tell you the name and address of directors. See if they have bankruptcy proceedings or similar in their history.
IMWO You'd be insane to book anything the way the world is at the moment.. even just in AU
travel company which has only been offering credit for tours cancelled due to Covid
See the ACCC guidelines, this is a valid 'refund'.
Let me ask you this -
Let's say somehow you did get your hands on details about their financial position - how does this help you?
- You could threaten to release the details - which is illegal.
- You could try to whistle-blow on them for trading while insolvent. But still wont help you get your money back.
If you're well funded, then perhaps you should engage a lawyer to explore legal avenues to get a look at their financial position. (but once again, what's your goal here? THink of the cost-benefit).
Buying tickets is almost exactly the same as buying a game pre-release - you're exchanging money for a reservation for a product to be delivered. If the company goes under before the product is delivered, there is no guarantee you will get your money back. The best you can do is:
- make sure you're purchasing through reputable companies that have good money-back policies
- use a charge-back as others are saying,
- use the ACCC as others are saying.
Sounds like they are trying to guarantee a future commission. Surely if the tour was cancelled they would have been refunded, so they can refund you?
Auditor here - probably little benefit in getting hold of ASIC records or their latest financials if they're a private company
If they are a 30 June year end, you will at best get your hands on 30 June 2020 number which is severely out of date
If they're a 31 December then their 2020 numbers might have been lodged, but again you're dealing with a 6 month old balance sheet
As other have said, best bet would be to try a charge back. I had to do that with TripIt after they kept stalling my refund.
Is it a publicly-listed company? If not, then you probably won't have much luck getting their financials.