AIWA! NO!

By CRIMSON TAZVINZWA

British Holiday & Travel Firm Thomas Cook collapsed in September 2019; triggered the biggest ever peacetime repatriation bringing more than 150,000 British holidaymakers home.

Thomas Cook 178 holiday firm by CRIMSON TAZVINZWA

The company, its customers and staff had hoped for a rescue deal, but that last hope fizzled out thousands of staff redundant and holiday makers stranded abroad.

Thomas Cook Aircraft Engineering will be wound down two months after the tour operator collapsed

About 800,000 British people had future bookings and the company had 9,000 employees in the UK.

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The British government decided there was no point bailing out Thomas Cook as it would have been a waste of taxpayers’ money to throw good money into a business that was not meeting the needs of its customers, the business minister said on Tuesday///AIWA! NO!//

LONDON, Sept 24 (Reuters) – The British government decided there was no point bailing out Thomas Cook as it would have been a waste of taxpayers’ money to throw good money into a business that was not meeting the needs of its customers, the business minister said on Tuesday.

“There are all sorts of rumours flying, the fact is that 200 million was even an underestimate of what Thomas Cook would have needed just for the very short term, for the next week or two,” Business Secretary Andrea Leadsom told Sky News.

“Thomas Cook is sitting on trying to service 1.7 billion pounds of debt, and it would have been a waste of taxpayers’ money to be throwing good money after bad,” she said.

Leadsom said she had asked the insolvency service to bring forward their inquiry into the directors and the events leading up to the collapse, “just to make sure whether there has been in fact any wrongdoing, anything that could have been done differently that could have averted this disaster.” (Reporting by Guy Faulconbridge and Paul Sandle; editing by James Davey)

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Category / Thomas Cook

Thomas Cook collapsed in September when the 178 year old holiday firm entered compulsory liquidation.

By CRIMSON TAZVINZWA

British Holiday & Travel Firm Thomas Cook collapsed in September 2019; triggered the biggest ever peacetime repatriation bringing more than 150,000 British holidaymakers home.

UK says bailing out Thomas Cook would have thrown ‘good money after bad’

The British government decided there was no point bailing out Thomas Cook as it would have been a waste of taxpayers’ money to throw good money into a business that was not meeting the needs of its customers, the business minister said on Tuesday///AIWA! NO!//

Travel company Thomas Cook ceases trading with immediate effect

Thomas Cook’s administration puts 22,000 jobs at risk worldwide, including 9,000 in the UK. Boss Peter Fankhauser said the collapse was a “matter of profound regret”. Thomas Cook, whose roots go back to 1841, went bust after last-ditch talks to raise fresh funding failed///CRIMSON TAZVINZWA//

By CRIMSON TAZVINZWA

British Holiday & Travel Firm Thomas Cook collapsed in September 2019; triggered the biggest ever peacetime repatriation bringing more than 150,000 British holidaymakers home.

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