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Tag: Thomas Cook Bankruptcy

Thomas Cook Bankrupt, Left 600,000 Tourists Stranded Abroad
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Thomas Cook Bankrupt, Left 600,000 Tourists Stranded Abroad

23rd Sept, 2019- UK based travel firm Thomas Cook file for bankruptcy, leaving some 600,000 holidaymakers stranded and sparking the UK's biggest repatriation since World War II. The 178-year old debt ridden firm, which had struggled against fierce online competition has failed to secure 200 million pounds (USD 250 million, 227 million euros) from private investors and collapsed in the early hours. Bankruptcy, which followed a lengthy period of chronic financial turmoil after a disastrous 2007 merger deal, left some 600,000 tourists stranded worldwide according to Thomas Cook, while its 22,000 staff are now out of a job. The British government launched emergency plans to bring some 150,000 UK holidaymakers back home from destinations including Bulgaria, Cuba, Turkey and the U...