Thomas Cook files for US bankruptcy protection

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This topic contains 82 replies, has 18 voices, and was last updated by  FaroFlyer 12 Oct 2019
at 18:39
.

Viewing 15 posts - 1 through 15 (of 85 total)

  • mkcol74
    Participant

    The latest story I’ve found about their efforts is on the FT’s website.

    1 user thanked author for this post.

    AMcWhirter
    Participant

    And I heard on LBC at 1730hrs yesterday that the FT has removed its paywall today.


    mkcol74
    Participant

    Yes @amcwhirter a friend told me about the paywall yesterday however he said it was only for 36 hours. I have a free membership via Google Play store which is about to expire, think it was for 6 months.


    LuganoPirate
    Participant

    This reply has been reported for inappropriate content.

    Another great name gone to the wall. Such a shame. I wonder what will happen to their Travellers Cheques (still used in some countries I believe and the Forex travel card?

    As for the FT, I’m a subscriber and every email let’s me know it’s free for today. Use a VPN in Hawaii and it will still work tomorrow morning. It’s my favourite paper and well worth subscribing to.


    AMcWhirter
    Participant

    Agree. It’s only for a limited time.


    LuganoPirate
    Participant

    This reply has been reported for inappropriate content.

    Not sure what was inappropriate about my post??????

    1 user thanked author for this post.

    mkcol74
    Participant

    Looks like the countdown has started when you see reports like this and also tweets like this it makes for interesting reading 🙁


    capetonianm
    Participant

    A great shame, a black day for the travel industry, for TC employees and customers.
    I hope even at this 11th. hour a rescue plan can be put in place, but it seems unlikely.


    LuganoPirate
    Participant

    It’ unbelievable that this was once a £ 5 billion company with the shares at over £ 2.80 and today it has a market cap of just £ 68 million. Such bad management and decisions along the way. It did get down to 8p some 7 years ago and then recovered to over 180p before collapsing again, so if they do pull a rabbit out the hat, it could be worth a small punt for the brave. Not for me though. I just hope they get rescued.

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    transtraxman
    Participant

    This article is a good analysis of where the Thomas Cook Group is and why it is under US bankruptcy protection — the answer is to protect it from ” largely US hedge funds which bought into the bonds hoping to make a killing from Thomas Cook’s collapse.”

    It is optimistic and shows how the firm can survive.

    “Comment: Thomas Cook is on life support, can it survive?”, (Travel Weekly 20-9-19)

    http://www.travelweekly.co.uk/articles/343426/comment-thomas-cook-is-on-life-support-can-it-survive


    K1ngston
    Participant

    According to news reports I have just received, they failed and Thomas Cook has ceased trading ….. Unbelievable!!!


    capetonianm
    Participant

    Shocking, and sad.
    My greater sympathy is with the employees.


    SimonS1
    Participant

    Really depressing and thoughts with those who have lost jobs and holiday savings.

    Sadly the business has been on the slide for years, largely due to poor decisions by past CEOs. However margins in the industry are cut throat as Monarch and TC have shown.

    Finally whilst maybe not illegal you have to consider the ethics of businesses that were taking in money as late as midnight last night when rescue planes had already been despatched by CAA.

    2 users thanked author for this post.

    transtraxman
    Participant

    …..and all for GBP200. The government has refused that quantity to keep the company operating so (on their own reckoning) now have to pay out GBP600. Families suffer, the taxpayers are lost and unemployment benefit has to be forked out………..and all for political pigheadedness and rigid dogmatic posturing. Madness.

    1 user thanked author for this post.
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