The company denies any wrongdoing, but it may be reluctant to provide investigators with new contracts to comb through. Eric Trump, who runs the company with his brother Donald Jr., last year denounced Democrats and media inquiries as one of the main reasons for the suspension of plans to open a new chain of ‘hotels.
Such surveys could also give negative publicity to the business as it seeks to grow.
A new set of partners could emerge now that Mr. Trump is no longer in the spotlight.
For the past four years, Bobby R. Burchfield, a Washington lawyer, has served as ethics counselor for the Trump Organization, reviewing contracts and potential partners. These exams made it difficult for some of them to pass, while others were deterred by being in the spotlight.
This surveillance will now relax, opening the way to new partners.
And with more than $ 300 million in debt to repay for the President has vouched for himself, there is an urgent need to find new contracts for the Trump Organization. In addition, a negative decision in the battle between the IRS, the US tax service, over an audit, could cost him more than 100 million dollars, according to information from the New York Times dating from September.
A country divided and the pandemic could hamper a possible rebound.
Some of Mr. Trump’s most profitable properties are in Democratic strongholds like New York and Chicago, where he remains extremely unpopular. And his golf club in Doral, Florida, which earns him the most, suffers big losses because many companies and organizations give up organizing their conferences there because of the divisive aspect of his character.
During his presidency, Mr. Trump has sought to fill the void, at least in part, through events organized at his properties by groups linked to him and the Republican Party. The Trump International Hotel near the White House is often teeming with the president’s allies.
It is unclear whether this clientele will continue to pour in, or if Mr. Trump’s critics will return to his properties once he steps down. It has also been a tough year for the hospitality industry due to the pandemic, as it has been for commercial real estate. Both sectors are central to Mr. Trump’s business portfolio.