Montrose touts zero-debt status
January 19, 2009 - Montrose Travel, which operates a host agency at www.mtravel.com, welcomed 2009 with zero debt, said its president, Joe McClure. But that's nothing new for the Montrose, Calif.-based firm, which has been owned by the McClure family since 1972.
The company said it has never had any debt and that its growth stemmed from reinvesting profits and maintaining positive cash flow.
As the recession tightens its grip on the travel industry, McClure recently issued a statement reassuring clients, agents and suppliers that the firm, which posts $110 million in annual sales, was in excellent financial shape.
Saying that Montrose Travel had "firm confidence in the future," McClure added that his company "kept good care of our current customers and made friends with many new ones; relationships that will last for many years, if not a lifetime."
McClure said the agency's financial position was "exceptional, and we continue to be one of the very few remaining travel companies that has zero debt and a balance sheet that most would love to have."
The staff, he added, remained focused on "doing what's right for our customers and for the communities in which we serve." | 
