Trump returns to a business empire ravaged by pandemic
Trump is returning to a family business ravaged by pandemic shutdowns and restrictions, with revenue plunging more than 40% at his Doral golf property, his Washington hotel and both his Scottish resorts over the past year.
Trump's 2020 financial disclosure released as he left office this week was just the latest bad news for his financial empire after banks, real estate brokerages and golf organizations announced they were cutting ties with his company following the storming of the Capitol this month by his political supporters.
The financial blow from former clients and business partners cutting ties to Trump is unclear, but it could be sizable. The PGA of America canceled a championship tournament at Trump’s Bedminster club in New Jersey, and several banks said they would no longer lend to the company, making it more difficult to roll over its debt with new loans.
In addition, New York City said it would be canceling various contracts with the company, including those running skating rinks and a golf club in the Bronx. Revenue at that course, the Trump Golf Links at Ferry Point, fell 20% last year to $6.4 million.
https://www.msn.com/en-us/news/us/tr...ic/ar-BB1cYqyV
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