XL go phut
The first of many to come, XL today went under. One of the UK's largest tour groups, it ran out of money, leaving thousands of people trying to find a way of returning to these fair shores, and thousands of others trying to work out if they had a contract with one of the bits of XL that had some kind of bond or not.
XL had a rather extravagant structure, with more names than a bad referee, and the papers have been full of ready-reckoners outlining who will get all their money back, who should get some of their money back and who should look forward to peering over the heads of the prime creditors at the final meeting. Many didn't even know they'd booked with XL - so much for branding, eh?
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