A leading tour operator and travel agent during its heydays, UTC went belly-up a few months ago after failing to navigate the country’s harsh economic terrain, characterised by declining tourism and a tight liquidity crunch.
Among the litany of problems, UTC owed its workers nearly half a million dollars in outstanding salaries and terminal benefits.
Other notable creditors include the National Social Security Authority (NSSA). The workers are now hoping to salvage something out of the liquidation process. Source: Fin Gaz.