Lapland Racks Up £8.4bn Losses Leaving 3,000 Elf Jobs at Risk

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    With citizens of Britain waking up this morning with a lot of festive cheer, gloomy research has exposed that Christmas is bankrupting Lapland.

    Satisfying the unquenchable appetite of the children of the world is costing the country (rein), dear.

    This year, Lapland is predicted to run up operating losses amounting to £8.4bn.

    According to Expert Market, a business-to-business comparison site, the big problem is the increasing cost of producing gifts for kids all over the world. Present costs have soared from £9.83bn in 2016 to £13.3bn in 2017.

    Lapland has managed to generate more than £5bn of income over this year, with image rights netting the homeland of Santa with £3.6bn. While the studding Rudolf and the other reindeers bring in £206.3m.

    Other than the costs of the presents, the biggest cost of Lapland is paying the wages of the 3,000-strong workforce of Father Christmas, something that will cost £91m in 2017.

    Sophia Patsikas who performed the audit into the business stated: “Any other business would be in administration, but somehow Lapland Inc keep delivering year after year. It’s like magic.”