Warnings on travel company 'ignored'

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The Independent Online
The Land Travel holiday firm was in financial trouble more than two years before it collapsed - yet the Government failed to act despite warnings from the firm's auditors, according to a Labour MP.

Price Waterhouse expressed concern about Land Travel's viability but the Department of Trade and Industry was 'asleep', Nigel Griffiths, Labour's consumer affairs spokesman, said. 'The auditors properly filed their concerns officially. Yet none of the Government's inspectors took any action.' He made his claim as he published a letter from Price Waterhouse detailing the financial state of the firm.