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This article makes me wonder where lastminute.com would be had it not been for the debt waiver. Indeed, it doesn’t appear as if the company has ever made a profit and the only reason it shows a “profit” not is because of the generosity (stupidity? Why keep alive a sick beast that drains resources?) of the parent company.
I doubt lastminute.com will survive the next recession (which will come about soon after the BoE increases rates or soon after Greece or Germany leave the Eurozone).
Err…when was the last time ‘Time Out’ actually made any money? Infact, they give it away for free now! Even toilet paper costs more than ‘Time Out’!