I wonder if their demise was exaserbated by the fact that KTHY ceased flying earlier this week and the only other airlines who would have naything to do with Goldtrail, (Atlas Air and Flypig) both demanded cash up front for providing replacement flights to Northern Cyprus.
The way Goldtrail operated, by apparantly giving people the impression they could fly from many regional airports then, at the last minute moving all the flights to one or two major airports and coaching passengers there, was a particularly chaotic way of doing things, but they must have gained significantly from it.
I have sympathy for the customers and innocent employees, but it was only a matter of time and I hope that their methods are closely inspected and that lessons are learnt.