By Business Travel News Europe
/
19 May 2021
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The Covid pandemic has caused a crisis in the TMC sector. The decimation of business travel and the lack of any real signs of when things will return to some form of normality has meant that many TMCs have failed – companies like Horncastle Executive with long proud histories went to the wall.
Ever since the start of the pandemic it has seemed inevitable that there would be a wave of consolidation as owners and investors wanted to cash out of an industry that may take years to recover and, indeed, may never do so.