Thomas Cook: Former workers ‘will not receive pay packets as usual’ on Monday September 24, 2019 Thomas Cook staff have been told they will not receive their wages as usual on Monday, according to union sources, after the travel giant went bust yesterday. The 178-year-old firm collapsed under the weight of a £1.7bn debt pile early yesterday morning, after weeks of frenzied attempts to negotiate a rescue deal with its lenders. [...]
Thomas Cook: Watchdog mulls whether to probe collapsed airline’s accounts September 24, 2019 Britain’s accounting watchdog is looking into investigating whether Thomas Cook breached accounting standards, after the travel giant collapsed yesterday. Nearly 15,000 people returned to Britain yesterday on specially-chartered flights after the firm collapsed under the weight of a £1.7bn debt pile. Read more: Was the collapse of Thomas Cook inevitable? The Financial Reporting Council said [...]
The great escape: UK flies home 14,700 Thomas Cook customers first day after collapse September 24, 2019 Nearly 15,000 people returned to Britain yesterday on specially chartered flights to save the passengers left stranded by the collapse of Thomas Cook. The megalith effort of flying people back to the UK is set to continue for the next two weeks as 135,300 people need planes to come home, the Civil Aviation Authority said. [...]
DEBATE: Was the collapse of Thomas Cook inevitable? September 24, 2019 Was the collapse of Thomas Cook inevitable? Julian Jessop, economics fellow at the Institute for Economic Affairs, says YES. It is sad to see the collapse of the world’s oldest travel firm, but badly run companies must be allowed to fail. There was some bad luck here, including unrest in Turkey, European heat waves, and [...]
Thomas Cook collapse: Assets under the hammer as liquidators move in September 23, 2019 Collapsed airline Thomas Cook will be sold as a whole or in parts after it went into liquidation this morning, the firm’s second largest shareholder has said. Neset Kockar, boss of Turkish holiday group Anex Tour, owned a near-eight per cent stake in the travel giant when it went under. Read more: Tui share price soars [...]
Thomas Cook collapse wrecks wedding for man called… Thomas Cook September 23, 2019 A man who shares the name of doomed travel company Thomas Cook faces the likelihood of cancelling his wedding after the travel company collapsed overnight. Read more: Thomas Cook collapse set to net hedge funds millions Among the hordes of unfortunate holidaymakers, Thomas Cook, 29, and his partner Amelia Binch, 27, from Hucknall, Nottinghamshire were [...]
Thomas Cook collapse set to net hedge funds millions September 23, 2019 The demise of travel firm Thomas Cook has caused chaos, leaving 150,000 Brits stranded abroad and triggering the UK’s biggest peacetime repatriation effort, but hedge funds are set to make millions from the collapse. Thomas Cook was the most shorted company on the London Stock Exchange ahead of its collapse into liquidation in the early [...]
Timeline – Thomas Cook’s humble beginnings to a billion-pound collapse September 23, 2019 Thomas Cook’s insolvency has left hundreds of thousands of people stranded abroad, and cost tens of thousands of jobs in the UK. But it has been a long time coming. With debts ballooning over the last 10 years and a near-miss in 2011, Britain’s oldest travel firm has endured a bumpy ride in recent years [...]
Don’t Thomas Cook it: What customers should do after tour operator collapse September 23, 2019 Airline Thomas Cook gave way to its financial pressures this morning, impacting 600,000 passengers around the world. Experts say that many customers will be covered and the government has embarked on the UK’s biggest peacetime repatriation in history, but what should you do if you have a ticket with Thomas Cook? If you are abroad [...]
Watch the last Thomas Cook plane land in Manchester after collapse September 23, 2019 Passengers on a plane from Orlando to Manchester would be forgiven for breathing a sigh of relief this morning as they became the last Thomas Cook customers to touch down before it went bust, leaving a string of cancellations in its wake. The company, which has been facing financial difficulties for months, shut up shop [...]