YTB sells administrative offices?

YTB Travel News: Sources states that YTB Travel International is selling their admininstrative offices. Somehow I knew that it wouldn't be long before this would be happening after the lay off of their adminstrative staff a few months ago. And just like than YTB Travel continues to say that there's nothing wrong. Here is information that has be noted on MLM'S And Travel site that has made this fact known to all.

We need to wait a few more days for the YTB Travel International or yourtravelbiz.com 10-Q filing, but it appears that they need to raise some cash. According to this 8-K filing, YTB is selling its property at 1 Country Club View in Edwardsville, IL. The property is being sold to Prestige Management Services, LLC for $1.5 million. This is the same property that YTB Travel International acquired a little more than a year ago, and according to this 8-K filing paid $1.85 million for.

The current sale is not only for the building and land, but also "All office equipment to remain with building to include: Cubicles, Chairs, Desk, Tables, Break Room Equipment. Sellers may leave or take Phone system." Computers and Computer Systems are excluded. Further, the buyer has taken an option to purchase 600 Country Club View at any time within 12 months of the closing of this sale.

This means that YTB Travel International is losing $350,000 on the sale, plus the cost of the equipment and furniture, plus the costs of acquisition and sale.

Why would they be doing this? The obvious speculation is that "The Company" is bleeding financially, and needs to raise cash

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For More Information Contact:

Daryl D. Alex
Regional Executive
Traverus Travel and TeleVerus Cell Phones
225-590-7700
1-877-744-3431