Trump's Scotland Losses Blamed On Brexit

Despite £3.3m in emergency support from the UK government during 2020’s pandemic, Trump properties at Turnberry and Balmedie show the businesses lost £4.7 million. Severin Carrell reports for The Guardian.

The resorts reported heavy losses due to their enforced closure during the lockdowns: the headline loss for Turnberry was £3.4m, after a £321,000 profit in 2019, and £1.3m at Balmedie, compared to a loss of £1.1m in 2019.

The story notes that this is the ninth consecutive year that Trump International near Aberdeen has reported a loss.

Also from the filing: the Trump’s blamed also Brexit for impacting the family business, notes The Daily Beast’s Justin Rorhlich.

Three months before he won the 2016 U.S. presidential election, Donald Trump gave himself a new nickname: Mr. Brexit. After the nation voted to break away from the rest of Europe, Trump appeared at Turnberry, his golf course in Scotland, and commended the Brits who “took back their country.” He later said Brexit was “a great advantage for [the] UK.” But, in true Trumpian fashion, Brexit wasn’t great for Trump personally. According to a financial disclosure filed with Scottish authorities and signed by Eric Trump, Brexit “impacted our business as supply chains have been impacted by availability of drivers and staff, reducing deliveries and availability of certain product lines.”

Turnberry has since seen higher prices, which have “increased from additional freight and import duty charges,” the filing states. “Staff availability has been a challenge from a combination of wage inflation with retail and logistics sectors increasing wages to attract staff due to increased business levels,” it says. And, it explains, “[T]he staffing pool has been reduced with lack of access to European staff for businesses in general resulting in greater demand for individuals previously available to the resort.”

Who could have seen that coming?