Winter Resort Company Fails, Prince Andrew Could Be Out His Deposit
Earlier this year, Prince William and some friends rented luxurious villas at Klosters from Descent. Prince Andrew also stayed at Descent's Chalet Eugenia in Klosters last January during the time of the World Economic Forum in Davos and hosted a small party. He had booked the same villa for next year to coincide with the Davos conference. A total of 42 groups have already paid deposits for an amount of around £450,000. Looks like we can blame the recession for this one too, the reduction in luxury travel is being cited as a reason for the company's failure.