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Posh chalet company goes bust
Monday August 24, 2009 - Email this article to a friend
Descent International has gone into liquidation owing creditors up to £500,000. It’s the latest company to be hit by the economic hard times.
It has had many high profile guests including the Beckhams, Russian oligarchs and the Duke of York. The Prince is owed almost £30,000 as he has already paid a deposit for a holiday next winter.
He was apparently due to stay in a chalet in the Swiss resort of Klosters at the time when the World Economic Forum is on in the neighbouring resort of Davos.
PlanetSKI has verified the story that was mentioned on the Natives web site and then appeared at TimesOnLine.
The company had luxury chalets in Courchevel, Verbier, Zermatt and St Moritz. The most expensive, in Klosters, cost £58,000 a week to rent over the New Year.
The guest enjoyeds sumptious luxuries for their money.
Tough times at luxury chaletsA short statement on the company’s web site says “Regrettable Decent International has gone into voluntary liquidation.”
It then gives an e-mail address for people to contact if they have already booked a holiday and advises people to turn to Ski Scott Dunn if they are looking for a similar quality ski chalet holiday.
It is reported that Ski Scott Dunn is in talks to take over the company.
The Reuters news agency says Descent International did not give a reason for its demise, but a senior manager at liquidators David Rubin & Partners said the global recession had taken its toll.
"Descent is a classic company to be a victim of a recession -- it provided chalet holidays for extremely wealthy individuals. There was no expense spared," he told Reuters.
He said a list of creditors provided by the company included 'Andrew Inverness, care of Buckingham Palace', who is owed £26,600.
"We understand that to be Prince Andrew," the David Rubin manager said, adding that he was unlikely to get the money back.
However judging by some of the comments that have appreared on chat forums and the comments on this news story on PlanetSKI, the demise of Descent International and the impact on its rich clients is not gaining much sympathy.
"£30,000 is peanuts to the Duke of York. If he really does need the money then I'm sure one of his "business contacts" in Eastern Europe would be delighted to oblige."
"I'm sure the government will just give him more of our tax money to make up for it."
"I don't think it's THAT sad, a few Tabitha's and Tarquins might have lost their jobs and had to return their Fiat 500's but it's not like a soldier losing his life or a stabbed teenager. All that's happened is a TO for toffee noses has gone out of business. Big deal."
Britain's main snowpsorts chat forum, Snowheads, is also discussing the subject.
One post has little sympathy for the rich skiers. "There are whole groups of people who love to ski who would quite happily sleep in a skip if it meant they got first tracks in the morning and others who are quite content squeezing their family into a modest bog standard appartment if it means they get to enjoy skiing as a family."
A position we endorse here at PlanetSKI!
The credit crunch has had a big impact on the ski industry with more to come.
PlanetSKI reported on it last winter as the British market dropped by around 20%. These figures were confirmed at the end of the season by the most reliable figures available on the state of the British ski market.
Many companies are batoning down the hatches and preparing for tough times next winter.
Crystal, the largest tour operator, has slashed its chalets by 40%, bookings are down on this time last year according to Erna Low and here at PlanetSKI we know of many companies including ski schools, tour operators and others that are cutting back on staff.
At the end of last winter the British snowboarding company, Chalet Snowboard, went into liquidation after a poor season.
The holiday company was set up back in 1991 and was one of the first British companies to cater for the snowboard market.
It's unlikely that Descent International will be the last ski or snowboarding company that goes out of business given the tough economic times.
So is the the sad end of a specialist and unique ski company or good riddance to the rich toffs?PlanetSKI reserves the right to edit any comments. In most cases a selection of your comments will be published, displaying your name and location unless you state otherwise in the box below.
I'm afraid I can't feel very sorry for a bunch of super rich people loosing a bit of their money. The trouble with skiing/snowboarding is it is perceived as so middle class and snobby. Loads of us just want to go riding and don't really care where we stay and we certainly don't read the daily mail. (that's where i first saw this story all dressed up as royal gossip).
Fiona Marks, Devon
If all these skiing holiday companies selling exclusive, extremely expensive holiday packages go bust, does that mean skiing may be cheaper for the average skier in the future? The next thing we need is for the price of lift passes to go down.... Oh for the day when the credit crunch might benefit us ordinary skiers.
H Manston, Yorkshire
What is going on here? A luxury ski company catering to the super-rich goes out of business. So what. On Snowheads the hacks that got the story seem to think they have exposed Watergate or something. Stuff the monarchy, get a grip and lets go riding.
Rob Alexander, London
what a load of fuss about nothing. Who cares?
Jerry, brighton
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